On 10 January 1995, Cole was suddenly sold in a shock deal to Manchester United for a deal worth £7 million – £6 million cash plus £1 million-rated Keith Gillespie going in the opposite direction, setting a new record for the most expensive British transfer. Newcastle fans were saddened and confused with Keegan for selling Cole, leading to Keegan publicly confronting fans at St James' Park, against the advice of chairman Sir John Hall and first team coach Terry McDermott, explaining his reasons on the day of the transfer. Cole stated his sadness at leaving the club, however felt the iconic status Newcastle fans aligned with him was premature and affecting him personally, whilst he cited Newcastle's November loss to Wimbledon F.C as permanently damaging his relationship with Keegan. McDermott stated in his autobiography that Keegan decided to sell Cole citing a drop in form and enthusiasm, whilst also hoping to sign Queens Park Rangers F.C. striker Les Ferdinand shortly following Cole's departure. Ferdinand signed for Newcastle the following season.