Chelsea confirm Joe Cole & Michael Ballack to leave club

Cole has been linked with a clutch of clubs in England, most notably Arsenal, Manchester United and Tottenham Hotspur, with Spurs boss Harry Redknapp publicly declaring an interest in securing his services this week.

A statement on the Blues' official website reads: "Chelsea Football Club can confirm that Joe Cole will be leaving the club upon the expiration of his contract at the end of this month.

"It brings to an end Joe's seven-year stay at Stamford Bridge, and we would like to thank him for his dedicated years of service and wish him well in his future career."

Ballack meanwhile has been linked with a move back to his homeland and Schalke 04, but some reports on Wednesday intimated that he was a target for new Real Madrid coach Jose Mourinho.

A futher statement from the club also confirmed the German international's exit, with the west London outfit thanking him for his four years at Stanmford Bridge.

"The midfielder has spent four years at Chelsea, and all at the club would like to place on record our thanks for his service and wish him luck for the future," it read.