Haaland has been linked with a host of big European clubs after impressing for Dortmund since arriving from Red Bull Salzburg last year.
The 20-year-old Norwegian is the top scorer in the UEFA Champions League this season with eight goals while he has also struck 17 times in 18 Bundesliga games this season.
Haaland worked with Manchester United manager Ole Gunnar Solskjaer during his formative years at Molde in his native Norway, and the pair have been tipped to reunite at Old Trafford.
Cole is however skeptical a player of Haaland’s quality will choose Manchester United over other top sides who have the capacity of delivering trophies on a regular basis.
"To get these guys to come, Haaland for instance, you’ve got to entice them with something," the former Red Devils striker told the Daily Mirror.
"You’ve got to entice them with the possibility of winning silverware or being a year away from it. These guys are going to have other options, possibly Manchester City, Liverpool, Chelsea, Real Madrid, maybe Barcelona.
"If you’re playing and have the option of all these clubs, where would United really figure at this moment in time? Even though I love United, I don’t think the club now can ride on its name alone, especially when you’re trying to bring these players in.
"It’s not like when I signed for United. We have to be brutally honest, back then everybody wanted to go there. We’re talking 2021 now. Does everyone want to go to United now?
"I’m not quite sure everyone wants to now."
