Joe Cole joins Liverpool on four-year contract

Liverpool today signed Joe Cole on a four-year contract, subject to a medical due to take place "in the next 48 hours". The 28-year-old England international has moved on a free transfer after his contract with Chelsea expired at the end of June. He had also been linked with Tottenham Hotspur and Arsenal, who will both compete in the Champions League next season, but has chosen instead to move to Anfield where he becomes the second signing of the summer after Milan Jovanovic, the Serbian winger who joined from Standard Liège earlier this month, also on a free transfer. The capture of Cole was seen as 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 Benítez's final season in charge, that Liverpool can still compete for quality signings. He will be seen as a replacement for Yossi Benayoun, the 30-year-old Israeli creative midfielder who has joined Chelsea for £5m.

Hodgson is still on the look-out for a new left-back with Fabio Aurélio having left and Emiliano Insua on the verge of completing his move to Fiorentina. After that the Liverpool manager will hope to secure commitments from Gerrard and Torres about their futures.