Cole had been linked with a move to Real Madrid or Paris St Germain, but this weekend a breakthrough appears to have been reached with Chelsea.
“I’m really pleased. The paperwork has to be done but the agreement is there,” Benitez told the club’s website.
“We are happy and he is happy.”
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Summer 2016 is set to be a very exciting time for football fans, as this is when the long awaited Euro 2016 tournament kicks off.
Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.