I like Cole, always have. Like Vis I believe he is probably the most talented English player out there. As an attacking midfielder there are few better and it is here where I think Chelsea ruined him causing him to waste too many years sitting on the sidelines.
Joe Cole, ball at feet, running at centre halves .................. Frightening prospect.
Forget the money for the moment and just focus on just where he would fit in to our line up. We currently have, IMO, one of the most balanced midfields out there. Our flanks cannot be bettered from an attacking point of view. Name me a better wing attack than Bale and Lennon, I dare ya!! Couple them with the attacking flair of Modric and you have a midfield always looking to get goals. The 4th position in midfield needs to be filled with the type of player that can do the 'dirty work'. The beauty of our midfield is that we have players who can do this AND provide flair.
Now Cole, I believe, would slot right into the role that Modric plays, rather easily IMO. The trouble is that he wouldn't replace Modric, he'd be there as back up. Something that I don't think he'd swallow any more. So, as great a player as he is, he doesn't really offer us anything that we don't already have. Had this same scenario occured 3-4 seasons ago he'd have waltzed into the Spurs side. At this point in time I don't think he could buy his way in!!
It's ironic really. For ages I wanted us to put in a bid for him. From when Mourinho was at the Chavs I wanted us to bid for Cole but we'd never have got him. Now, when he is readily available, we really don't need him.
I wish him luck wherever he goes (unless it's the goons) as I love watching him play and his attitude, WRT his Football, is exemplary. But he would be a luxury we really don't require.