Liverpool have signed former Chelsea midfielder Joe Cole on a free transfer.

The 28-year-old England international left Stamford Bridge at the end of last season after failing to agree a new contract with the club and has agreed personal terms on a four-year deal at Anfield.

The England midfielder will undergo a medical in the next 48 hours. Cole was linked with a number of Barclays Premier League sides, including Arsenal and Tottenham, but has opted to move to Merseyside.

He could have gone to a team offering UEFA Champions League football but has chosen to join new Reds boss Roy Hodgson at Anfield even though they can only offer the Europa League this season.

The capture of Cole was seen as being a key factor in proving to the likes of Steven Gerrard and Fernando Torres, who have both been linked with departures after a disappointing seventh-placed finish in Rafael Benitez's final season in charge, that Liverpool can still compete for quality signings.

Cole is the second summer arrival at Liverpool after Serbia forward Milan Jovanovic joined following the expiration of his contract with Standard Liege.

Cole will be seen as a direct replacement for Yossi Benayoun, who coincidentally moved to Chelsea for £5.5million earlier this month, and only time will tell who got the better of that exchange.

Hodgson is still on the look-out for a new left-back with Fabio Aurelio having left and Emiliano Insua on the verge of completing his move to Fiorentina.

After that the Liverpool boss will hope to secure commitments from Gerrard and Torres about their futures.

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