No Cole-fired Wanderers as talks break down
FourFourTwo understands the Wanderers were keen to bring the England international to the A-League, making him its marquee signing, but the move has stalled.
Cole is likely to sign for a European club or a side in the MLS in the weeks ahead.
It is believed the transfer broke down over the length of the contract offered to him by Western Sydney.
Cole, who turns 32 in October, scored three goals in 26 English Premier League and FA Cup matches for the Hammers last season.
The centre forward has bagged 80 goals in 381 career appearances. Cole, who has played for Chelsea, Wolverhampton, Charlton, Aston Villa and West Ham, has been capped seven times for England.
He made his Premier League debut back in 2002 for the Blues.
Western Sydney is on the hunt for a striker after the departures of forwards Tomi Juric, Kerem Bulut and Nikita Rukavytsya.