As of today, Chelseas Ashley Cole is able to talk to foreign clubs about a proposed move this summer when his contract expires. The fact that Chelsea have let his contract reach this stage is staggering, yet what is even more staggering are the reports that still Chelsea are yet to even open negotiations with Cole and his agent over an extension to his 120,000 per-week contract. Letting Cole leave would mean bidding goodbye to a player with 99 England caps worth of experience, as well as countle s Premier League, FA Cup and now European Cup succe ses. Many would argue that an annual wage 5million is what has put Abramovich off granting Cole a new deal; yet money doesnt seem to even cro s his mind when sacking and hiring managers every Reggie Wayne Jersey time Chelsea go through a bad spell. Not only does Ashley Cole offer Chelsea stability and experience, he is also still a top-quality left back, and letting him go would be utter madne s.The first question is who will Chelsea replace him with? The truth is, their options are limited. Available to Chelsea is a very narrow pool of talented left backs, all of whom would command a minimum of 70,000 per-week, as well as large signing on and transfer fees. If we look around the top sides in European football, left back is often one of their weakest position. Real Madrid have Marcelo and Coentrao, both of whom are excellent attacking players, but struggle defensively. Of the two, Coentrao is the better full-back, but are either better than Ashley Cole? I would argue not. Barcelona are the exception with Jordi Alba, probably the worlds best left back at the moment, and a player who Chelsea mi sed the boat on signing last summer Jimmy Graham Jersey if they really do intend on replacing Ashley Cole with a younger alternative. Manchester United have Evra who seems to be on a gradual decline, while Manchester City have Gael Clichy who many would agree is not anywhere near the quality of Cole. Ironically, the three best left backs after Cole and Alba all play for clubs that wont be playing in the next round of the Champions League. Zenits Domenicio Criscito, Atletico Madrids Filipe Luis and Evertons Leighton Baines are all excellent left backs, and would be worthy of a place in any top side in the world; however Chelsea already have a better left back, so why pay a vast transfer fee to replace him?Chelseas decision to extend Coles contract depends on two key factors. Firstly, who will their manager be Andre Johnson Jersey next season? If they are succe sful in enticing Guardiola into becoming manager, then maybe a quicker, more attacking left back would be a preferred option. However having witne sed the ruthle s sacking of Roberto Di Matteo, can Chelsea bank on the fact that Guardiola would want to work under Abramovich? Furthermore, after recent important wins and good performances, has Rafa Benitez put his name firmly in the reckoning for Chelseas next full-time bo s? If so, than Cole is the perfect full back for a pragmatic coach like Benitez. Chelsea must also consider the imminent Financial Fair Play regulations to be introduced by UEFA, whereby they would be required to cut expenditure dramatically considering the cost that will be brought by hiring a new manager. Sure, Coles replacement will be on a lower salary than him, but it wont be drastically lower, while Chelsea will also have to pay a large transfer fee and signing on fee which may even cost the club more than signing Cole on for another two seasons. Furthermore, FFP ruling Miami Hurricanes Jersey means home-grown players are a nece sity for top European clubs, further adding to the sense in maintaining the service of Englands top left back.A final and cheaper alternative for Chelsea is to release Cole, and replace him with Ryan Bertrand, another English left back who in the past year has cemented his place in the Chelsea squad. Despite now being 23, Bertrand still has limited top-league experience. He was however trusted by Di Matteo to start in the Champions League final for Chelsea and performed a man marking job on Bayerns key man Frank Ribry effectively. Bertrand is definitely capable of filling Coles boots, though not yet. His performance this season at Stamford Bridge against Shakhtar Donetsk demonstrated this, as he was at fault for both of Shakhtars goals, and struggled against the craft of Willian, and the runs of the excellent Darijo Srna.A logical solution to the Cole i sue would be to sign Bertrand on a long contract with a relatively low wage, and offer Cole a two-year deal on whatever wage he wants, thus allowing Bertrand to learn from Cole until he is ready to take his place in the Chelsea first XI. In the meantime, Chelsea will retain Coles vital service and will save the cost of purchasing a replacement who may take time to settle into the squad. Unfortunately, it seems that Abramovich will overlook this option, and instead fork out yet another large sum for a younger left back in his bid to emulate Barcelonas style; however if Guardiolas answer is no, and Chelsea are left next summer with Benitez as bo s and the left back slot unoccupied, Roman Abramovich may come to rue the fact that he let the worlds second best left back leave without even a transfer fee, and regret not offering him an acceptable deal before January 1st when Coles head can be turned by the likes Ray Lewis Jersey of high-spending PSG, and other European rivals to Abramovichs club.