The former Gunner won the title twice under Arsene
Wenger and is determined to bag his first Premier League with the
Blues next season.
Cole, 28, insisted the league is his personal priority
- but reckons that City can be serious contenders.
He said: "I think the players City are buying are good.
Obviously they have got Gareth Barry, who I know from England and
he's a good player. "They have got Stephen Ireland, Shaun
Wright-Phillips, Robinho, Manu Adebayor and Carlos Tevez. They are
all good players.
"This year might be tough to break in but next year,
you never know with the guys they are buying. "I think it's going
to be hard for them but they could do. You never know, they may
gel, click, straight away and it's magic.
"I hope they do. I have friends there and I hope
they do really well - and that they finish above
Arsenal."
Cole laughed as he said the name of his old club, where
he gets bucket loads of abuse for moving to west London.
He has been in sparkling form during his team's
pre-season tour of the States. An impressive Chelsea dominated
former boss Jose Mourinho's Inter Milan in Pasadena, California,
late on Tuesday night. Didier Drogba's 20-yard curler in the 11th
minute and a Frank Lampard penalty just after half-time gave
Chelsea the victory over the Italian champions in front of 81,224
fans.
And Cole is now determined to take that form into the
campaign. He added: "Of course it would be nice to go to another
Champions League final and win it one day, but for me the Premier
League is the best trophy.
"Maybe because I'm English and I've won it twice at
Arsenal. It's the best league to play in and that feeling you have
when you win it and how the fans are, it's a great
achievement.
"Sometimes in the Champions League I don't think the
best team always wins it. It depends how you play on the
day.
"In the league you have to play well week-in, week-out.
Manchester United were worthy champions last year."
Cole's words will be music to the ears of new Chelsea
boss Carlo Ancelotti. The Italian has won only one league title in
his career so far - five years ago with AC Milan.
And after beating old foe Mourinho, Ancelotti was in
confident mood about what lies ahead. He said: "I think I can win
the Premier League - I'm here for this!
"But not only victory is important, I want to put
entertainment into the team. Our style is very important."