Cole's arrival at Anfield could carry additional benefits

The former Chelsea star has agreed personal terms on a four-year contract and will undergo a medical over the next day or so before the deal is officially concluded.

Cole – heavily linked with Arsenal and Tottenham – will add some much-needed creativity to a side which was sadly lacking in that department last season when they finished a disappointing seventh in the Barclays Premier League.

However, irrespective of the talents of the 28-year-old, and they are considerable, his signing is seen as a statement of intent by Hodgson.

The former Fulham manager took over from Rafael Benitez at the start of the month but many questioned whether he had the necessary star quality to attract the marque signings required to get the club back on their feet again.

Even before last season had ended, Torres spoke out about the need to bring in four or five quality players while speculation about Gerrard's future, having again been linked with a move to Real Madrid, began to grow.

Securing the services of Cole, the biggest free transfer available this summer, will go some way to placating Torres while Gerrard will no doubt appreciate playing alongside an England team-mate.