The 22-year-old midfielder is once again in the centre of transfer speculation after the star reportedly rejected two new contract offers at the London Stadium.
Speaking as a pundit on TalkSPORT, Cole backed up that viewpoint, particularly after the Euros.
Every time he kicked a ball in the Euros, I was like: ‘His price has gone up!’. He’s becoming more and more desirable and for me, he’s a top, top player – we all know that at West Ham. He’s proved himself there and been under the mentorship of a great West Ham legend in Mark Noble. He [Noble] hasn’t had any caps for England but been a great model pro. Rice has been working under his tutelage and learning the ropes in how to be a leader on the pitch. He’s got the qualities of a centre-midfielder, but he can play as a centre-back as well. All it is with Declan is that he needs games at the highest level.
Asked whether the 24 times capped ace was worth £50million, the 37-year-old said: “I’m going double that.”
Last season Rice played every minute in the Premier League prior to a knee injury that ruled him out for six matches.
READ WEST HAM VERDICT
Valued at £67million and under contract at the London Stadium until 2024 (Transfermarkt), there can be little doubt the midfielder is worth the mooted fees to West Ham.
Often the captain on the field, the youngster has become a driving force in the side and played a huge role in guiding the Irons to Europa League football.
Ultimately keeping hold of Rice could prove a difficult task in the long run, but when the time does come the hierarchy must stand firm on their valuation.