West Ham co-owner David Gold believes an attempt to bring Joe Cole back to Upton Park has 'run its course'.
The club's manager, Avram Grant, admitted last week that he would welcome a reunion with the Liverpool playmaker, who he worked with at former club Chelsea.
It has also been reported that Cole would be interested in a return to West Ham, where he began his career, having struggled since a Bosman move to Anfield in June.
But ahead of Sunday's FA Cup tie with Nottingham Forest, Gold does not think that it will be possible to agree a deal for the 29-year-old.
Gold told Sky Sports News regarding interest in Cole: "We don't leave any stone unturned. But I would discount that now. I think that has run its course."
West Ham completed the drawn-out signing of Senegal international Demba Ba from Hoffenheim on Friday to add to the January arrivals of Gary O'Neil and loanee Wayne Bridge.
However, amid reported interest in Brazil international Ewerthon, Gold has not ruled out further signings before Monday's transfer deadline.
He said: "We still have one or two other irons in the fire."
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