Though City and United backed out later on, the left back is still believed to be in the target list of Arsenal,
Recently, Hodgson talked to the 28-year-old and his agent over a possible deal.
Joe Cole, on the other hand, is still weighing up all the possibilities. At Tottenham he would be able to reunite wit his former mentor Harry Redknapp, while moving to Arsenal would ensure his participation in the Champions League.
It is true that Cole wants a weekly salary of £120,000 that none of the clubs is eager to meet. So, it is pretty much clear that he must lower his wage demand to keep the interest of his suitors intact.
Overall, Joe Cole has a number of options and it is expected that he would take the final decision on his club future very soon.