The former England international has scored just three goals since he arrived on Merseyside on a free transfer last summer.
Head in hands: Cole has endured a tough time on Merseyside and looks set to leave in the summer
Cole, 29, was sent off on his debut in the 1-1 draw with Arsenal on the opening day of the Barclays Premier League season. And the former Chelsea man has made only seven League starts since.?
'It's tough on Joe because he is a great kid. But things just haven't worked out for him', a Liverpool source told the Sun.
'Kenny is building a new Liverpool with the likes of Andy Carroll and Luis Suarez and he wants to bring in more new players in the summer.
On target: Cole scored only his second Premier League goal of the season in Saturday's 5-0 win over Birmingham
'And, unfortunately, that means Joe will be surplus to requirements.'
Liverpool are said to want at least ?10million for the former West Ham youngster.
Tottenham and West Ham are among his interested pursuers, although both are unlikely to fork out such a sum for a player who has struggled with form and injuries in recent seasons
?Liverpool 5 Birmingham 0: Rodriguez nets hat-trick as Reds thump BluesI'm not a flop! Cole insists he can turn it around at Anfield despite slow startFrustrated Cole hoping to hammer home a point against his former club?Explore more:People: Joe Cole, Andy Carroll Places: Liverpool, United Kingdom
Source: Daily Mail
Source: Daily Mail