Both are of course out of contract in the summer and don’t look to be any closer to signing a new deal, so the Red Devils might make a move on the two England internationals.
Lampard has been in fine form for the European Champions, but his current employers seem happy to let his contact run-out and let him move on.
As for Cole, he has failed to agree a one-year deal as he feels his performances deserve more than this and that could end his career in West London.
It is thought that Lampard is keen on a move to the English Premier League-leaders as he wants to play at the highest level possible.
However, Cole might be more tempted by a big money move to Paris Saint Germain, who have shown interest in him recently.
Sir Alex Ferguson knows that the retirement of both Paul Scholes and Ryan Giggs isn’t far away, so he wants to add some experience.
With Cole and Lampard, he would get two of the best players the Premier League has seen.