Cole is one of the Hammers longest serving players having arrived from Chelsea in 2006, but a lack of goals and inconsistent performances have lead Sam Allardyce to allow him to leave.
West Ham have signed two strikers already this month on loan in the shape of Marouane Chamakh and Wellington Paulista with fellow loanee Andy Carroll nearing full fitness after a knee injury.
The England international is reportedly unhappy at being told he can leave but a fresh start and first team opportunities at Reading or Norwich may be what he needs.
With Cole’s contract up in the summer and the three loan players to return to their parent club, West Ham could be left with just one senior striker on their books come June.
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