United with both clubs interested in signing the left-back who has failed to agree a new contract to keep him at Stamford Bridge.
Cole was offered a one-year extension only by Chelsea, who have brought into effect a new policy for players over 30, however he believes he deserves a much better deal and is listening to offers from other top European clubs.
Money-rich Paris St Germain had been the main contenders to capture the signature of the 31-year-old, who is prepared to walk out on his current club when his contract expires at the end of the season. However, PSG Chief Leonardo has now closed the door on a potential deal to bring the Englishman to the Ligue 1 runners-up and join up with other top European stars, such as Zlatan Ibrahimovic and Thiago Silva, purchased by the big spenders in the summer.
The potential deal was rumoured to be a three year contract worth £23million, allowing Cole to reunite with former boss Carlo Ancelotti, currently head coach at PSG. But sporting Director Leonardo has now announced “Besides Lucas [Moura], nothing is done and there is no discussion with any player.”
When asked about Ashley Cole, the Brazilian replied: “Neither this winter nor next season.”
The Chelsea management may decide to use the January transfer window to cash-in on the experienced international, as opposed to losing the player for free in the summer, and appoint up-and-coming youngster Ryan Bertrand as the first choice left-back for the Blues.