Ashley Cole will leave Chelsea next summer after rejecting a new contract, The Daily Mail claim.

The England international is in the last year of his current contract at Stamford Bridge, with uncertainty over where the veteran will play his football in 2013-14.

The Blues are eager to lower the average age of their first-team, with a raft of new exciting players joining the side in the summer.

Roman Abramovich is thought to be wary of offering players over 30 anything more than a one-year extension, which was the reason that Didier Drogba decided to leave the Champions League winning side to join Shanghia Shenhua in the summer.

Seasoned campaigners Cole and Frank Lampard are in the last year of their deals with Roberto Di Matteo's men, and it is believed that Chelsea have only offered the left-back another year at the club.

However, Cole is said to have knocked back the Blues' offer and will now consider his options at the end of the campaign.

It is believed that the experienced defender would prefer to move abroad than to move to another Premier League club, with Paris Saint-Germain and Real Madrid both interested in signing the Three Lions' man.

Former bosses Carlo Ancelotti and Jose Mourinho are both admirers of Cole's abilities and would be keen to bring the veteran to their respective clubs for next season after working with him at Stamford Bridge.

Cole will be free to negotiate a pre-contract agreement come January, which could see the player agree to move to an alternative side for the following season.