Former England and Arsenal defender Ashley Cole has broken his silence to reveal the shocking truth behind his controversial 2006 departure from the club, claiming the infamous 'Cashley Cole' label was a gross injustice.
The £5,000-a-week dispute that changed everything
For nearly two decades, the football world believed Cole left Arsenal because he turned his nose up at a £55,000-a-week contract offer, famously writing in his autobiography that he nearly crashed his car upon hearing the figure. However, the full-back, now 44 and a coach with England's under-21s, insists money was never the issue.
"I would have signed for anything," Cole stated on the 'Stick to Football' podcast with Gary Neville. "It might have been £60,000 a week that they offered me and I was delighted with that." He explained the proposed deal was not incremental over five years, but he did not care because he was "living my dream."
The real catalyst, according to Cole's biographer Steve Dennis, was a petty internal power struggle at the Arsenal boardroom level. Vice-chairman David Dein had shaken hands with Cole's agent on a £60,000-a-week, five-year deal. Based on the club's own valuation, Dennis claims Cole could have legitimately demanded between £110,000 and £120,000.
Boardroom politics overrides a handshake deal
The agreement unravelled when then-chairman Peter Hill-Wood intervened. He reportedly told Dein he should not have acted without full board approval and instructed him to go back and offer only £55,000 a week instead.
Then-manager Arsène Wenger pleaded with the board, asking: "Are you seriously asking us to risk losing a player of Ashley's calibre for the sake of £5,000 a week?!" according to recorded boardroom minutes cited by Dennis. Hill-Wood's response was that the reduced offer was the "best and final" one.
When this U-turn was communicated, Cole's reaction was one of betrayal. "They were my club, I loved that club, but I felt under appreciated and they took my love away," he said. His agent relayed the new terms with a 'take it or leave it' ultimatum, prompting Cole's furious response: "Are they taking the p***?!"
The legacy of 'Cashley Cole' and a career rebuilt
The subsequent media narrative painted Cole as the villain, a greedy player nicknamed 'Cashley Cole', while the context of the broken agreement and boardroom clash was ignored. "It was a travesty of the truth," Dennis asserted.
Cole's departure was finalised in September 2006 in a £5 million swap deal that saw William Gallas move to Arsenal and Cole join Chelsea. At Stamford Bridge, he rebuilt his legacy over eight years, winning the Premier League, the Champions League, the Europa League, and four FA Cups. He also earned 107 caps for England, retiring from international duty in 2014.
Fellow Arsenal legend Ian Wright has since supported Cole's version of events, calling it a "matter of principle." Two decades on, one of England's greatest ever defenders has finally presented his defence.
