The former winger does not believe any Premier League team, including champions Arsenal, will win the Champions League this season.
Numerous analysts anticipate that Mikel Arteta’s squad will improve upon their performance after reaching the Champions League final last season.
The Gunners, who achieved their first Premier League title since 2004, took the lead in May’s Champions League final but were unable to maintain it, ultimately losing to PSG in a penalty shootout.
Arsenal will commence their Champions League journey on Wednesday evening against Napoli and appear well-prepared for another European challenge.
Arteta has strengthened his title-winning team with the acquisitions of Brazilian star Bruno Guimarães, England international Ezri Konsa, and Greek winger Christos Tzolis during the summer transfer window.
The Gunners have started the Premier League season flawlessly, securing victories against Coventry City, Aston Villa, and Chelsea in their first three matches.
Arsenal have been named as one of the joint favourites to win the Champions League, alongside Barcelona and PSG, yet Cole believes their pursuit of the European trophy will continue.
When asked to share his Champions League prediction on the competition’s opening night, Cole stated on TNT Sports: “I’ve chosen Real Madrid.
“Considering Jose Mourinho’s return and the final being held at Atletico’s stadium, he embodies a captivating narrative as a manager, and I can envision him achieving success.
“Many have dismissed him, but I believe he remains exceptional and is particularly well-suited to work with elite players.
“I have confidence in them. Ultimately, success hinges on the players, but a harmonious relationship with the manager is essential.
“The only challenge they must address is Kylian Mbappe, but if they can ignite his performance and integrate him into the team, it will be beneficial. Vinicius’s decision to stay was also crucial for the club.
“I sense a certain energy surrounding Real Madrid; I have faith in them for the Champions League this season.”
Mourinho’s Real Madrid kick-started their Champions League campaign with a 2-1 win over Inter Milan on Tuesday night.