The former England midfielder started just nine Premier League games for the Reds last season following his free transfer move from Chelsea.

His chances of first-team action in the coming campaign look slim after Liverpool landed Jordan Henderson and Charlie Adam.

The 29-year-old is happy to stay at Anfield and fight for his place by impressing Kenny Dalglish in training, but the club would prefer him to move on.

Hamburg have now emerged as his most likely destination with former Chelsea sporting director Frank Arnesen being appointed to the club.

Joe Cole is to be given the chance to move to Germany

The German knows Cole well from his time at Chelsea and is apparently prepared to offer him the opportunity to jump start his career.

Hamburg are willing to pay Cole's £90,000-a-week salary if he moves to the Bundesliga on loan, but are also prepared to consider a permanent deal.

Cole's wages have proved a stumbling block to him securing a move to another English club and Spurs ended their interest in a £2 million transfer deal because the board were not prepared to make him the highest-paid player at White Hart Lane.