Tottenham, Liverpool, Manchester United, Juventus and Manchester City are all keen on Joe Cole who will become a free agent after his contract expires on June 30.
Joe Cole launches attack on Ancelotti
The former Chelsea star insists he will decide after the World Cup but Spurs boss Redknapp, on Talksport, said yesterday: "He's told us that he hasn't decided anything yet and he hasn't done anything definite.
"So there's a chance. I suppose it all depends on the financial side of it and everything else, but according to his agent, hes not made up his mind yet.
"I think that Daniel [Levy], the chairman, has spoken to Joe's agent and he said that Joe didn't want to discuss any moves until after the World Cup. Then he's going to look at his options."
But Arsenal are NOT interested in signing Cole. Mirror Sport understands Arsenal boss Arsene Wenger believes he already has enough midfielders of the same style.
Arsenal chairman Peter Hill-Wood confirmed: "I had a long conversation with (chief executive) Ivan Gazidis, who had been with Arsene (Wenger) and his name never came up at all."
Chelsea confirmed yesterday that Cole and Michael Ballack will be released along with Juliano Belletti. Portugese midfielder Deco is also set to join Fluminese.