London, Nov.25 : Manchester City has announced that it is ready to pay 20 million pounds to secure the services of Chelsea star Ashley Cole.
The club's billionaire Arab owners are also trying to sign up Portsmouth midfield star Lassana Diarra for 18 million pounds, reports The Sun.
City is willing to offer Cole a 130,000-pound-a-week deal to move to Eastlands.
Cole, 27, has two-and-a-half years of his current deal left. The present contract pays him 82,000 pounds a week.
Chelsea is aware of City's intentions and also the fact Cole could 'buy out' his contract next summer and move for nothing.