• Hodgson wants to make Londoner his first signing
• Lure of first-team football may be crucial factor
The England international has held talks with Anfield officials and Tottenham Hotspur over a lucrative free transfer following his release by Chelsea. Although the early indication was that the 28-year-old wanted to stay in the capital Liverpool, who are unable to offer Cole Champions League football, believe their terms and the prospect of regular first-team football may yet entice the midfielder to Merseyside.
Hodgson, who would prefer an answer from Cole this week as he prepares a makeshift squad for Liverpool's Europa League third-round qualifier on 29 July, said: "I know we've been connected with him, and it's good to know we're connected with players of that quality, but I don't have anything to report on the subject."
Liverpool's clearout has continued with the club agreeing a £5m fee with Fiorentina for Emiliano Insua. The young Argentina defender is in Italy to discuss personal terms and would leave Liverpool without a recognised left-back should he accept the contract on offer. The club has also received a bid of around £4m from Olympiakos for Albert Riera but are holding out for closer to £5m.
Most of the papers appear to be reporting that Cole is joining Liverpool so it looks quite likely..