The England international is entering the last year of his current deal, with the Blues keen to keep the left-back at Stamford Bridge.
However, media reports have linked Cole with an exit from the west London side, with Paris Saint-Germain and Manchester United credited with an interest in the full-back.
Despite this, Cole has set the record straight and also rejected claims that he wants £200,000 per week to stay at Chelsea.
“Contract talks have not stalled just started, and 200k are you for real, I’d never ask for that,” Cole wrote on his Twitter account.
“Like I said before don’t listen or always believe what media say they aint got a clue”.
By Gareth McKnight