The People claims Blackburn boss Graeme Souness has lost patience with Cole following a series of bust-ups and now wants the hit-man off his hands before the start of the new season.
The main stumbling block in shifting the former Manchester United star is his massive wage packet.
Cole is reported to be earning around £3 million per annum at Ewood Park, and it appears that Blackburn would have to continue paying at least part of his salary if they are to move him on.
Cole's relationship with Souness soured last season when he called in the PFA after claiming victimisation by the fiery Scot.
Souness has brought Paul Dickov to the club this summer and has hinted he will pair the former Leicester man with exciting prospect Jon Stead in his first-choice striking partnership next term.
That would appear to leave Cole out in the cold, and his manager now wants the player's hefty wages off the books at Ewood Park.
A return to Fulham, where he had a successful loan spell earlier in his career, could well appeal to Cole and The Cottagers are looking for a proven replacement for the departed Louis Saha.
The 32-year-old striker is believed to favour a move to London and, if available on a free transfer, he would be an attractive proposition for Fulham boss Chris Coleman.
