Man City to make £20m bid for Cole

City’s billionaire Arab owners are trying to explout Chelsea’s financial situation.

City are willing to offer Cole a £130,000-a-week contract. The 27-year-old has currently 2 1/2 years left on a £82,000-a-week deal with the Blues.

According to FIFA rules Cole have the chance to ‘buy out’ his contract next summer.

City are also expected to make a move for Portsmouth midfield star Lassana Diarra in January.

A senior City source told the Sun: “The owners agreed to strengthen the team in January. The Diarra deal is almost done and Cole is very interesting.”