Liverpool Transfer Rumours: Arsenal Ready to Pick Up Liverpool Big-Money Bust

Jake WareCorrespondent IIIAugust 17, 2011

HULL, ENGLAND - JULY 23:  Joe Cole of Liverpool in action during the Pre Season Friendly match between Hull City and Liverpool at KC Stadium on July 23, 2011 in Hull, England.  (Photo by Matthew Lewis/Getty Images)
Matthew Lewis/Getty Images

After a spending spree that has topped £40 million this transfer season, Liverpool manager Kenny Dalglish has been told that he must sell before he looks to buy more. That started with the offloading of Milan Jovanovic to Anderlecht and was followed by the sale of youngster Daniel Ayala to Norwich City.

Now, that look is set to continue, as Arsenal manager Arsene Wenger has registered his interest in Liverpool bust Joe Cole.

According to multiple reports by the International Business Times, Wenger is looking for reinforcements in his midfield after the imminent losses of Cesc Fabregas and Samir Nasri.

The 29-year-old joined Liverpool from Chelsea on a free transfer last summer but failed to break into the first team under Dalglish after injuries set him back when Roy Hodgson was in charge. His high salary, thought to be over £100,000 a week, has left Liverpool fans and management alike pleading for his departure.

Unfortunately, with a price tag like that, that is harder than it sounds.

Cole would have to take a significant pay cut to head back to London, but the lure of playing first-team football could be enough to tempt him to agree.

Cole, who has made 56 appearances for the full England National Team, is buried a long way down the pecking order at Liverpool after three midfield signings this summer.