Ashley Cole could leave Chelsea on a free transfer next summer after contract talks reportedly broke down.
According to English newspaper The Sun, Cole, who has less than a year remaining in his current contract, has only been offered a one-year deal by Chelsea, leading to suggestions that the left-back, who signed from London rivals Arsenal after a contract bust-up in 2006, could be a free agent next summer.
"Mr Abramovich has a rule that anyone over 30 can only be given a one-year extension but it's madness in Ashley's case," a club source told The Sun.
"Everyone knows he's the best left-back in the world.
"He trains hard, really looks after himself and can play at this level for many more years to come. There isn't a club in the world who wouldn't want Ashley on a free."
According to the report, Real Madrid might show an interest in signing Cole, with Jose Mourinho a big admirer of the defender. Although, the viability of a move to Real can be argued with the Spanish club already having Marcelo and Fabio Coentrao in their ranks.
However, moneybags Paris St Germain or Russian powerhouses Zenit St Petersburg and Anzhi Makhachkala could move for the left-back, who is still regarded as one of the best in the world in his position. A bid from Manchester City can also not be ruled out.
The report comes on the back of Chelsea announcing a new five-year deal for Cole's understudy at Stamford Bridge Ryan Bertrand.
"Ryan Bertrand has committed his future to Chelsea today (Wednesday) as he signed a five-year contract," a short statement on the club's official website said.
Bertrand, who broke into the Chelsea squad late last season, has been rewarded for his remarkable progress, having only signed a new four-year deal last summer.
Meanwhile, Gary Cahill has backed the 23-year-old to have a bright future at Chelsea. "People are just starting to sit up and realise how good he is," Cahill said.
"He has got a great reputation, especially at our club, and is going to have a massive future, that's for sure.
"It only benefits him coming here with England and obviously training with Ashley."