Cole's future has been the subject of speculation with the 31-year-old entering the final year of his Blues contract.
Reports suggested Chelsea had yet to open talks with Cole over a contract extension, with the player supposedly holding out for a deal worth £200,000 a week.
However, Cole took to Twitter on Sunday to dismiss talk of his pay demands and explain that talks have only just got under way.
The left-back wrote: "Contract talks have not stalled just started, and 200k are you for real, I'd never ask for that.
"Like I said before don't listen or always believe what media say they aint got a clue."