However, the independent commission’s verdict on Cole’s defence could have even more repercussions, with the Arsenal defender’s legal team having argued that he should have been allowed to speak to Chelsea.

Cole’s argument is unlikely to be accepted by the commission as it contravenes the Premier League rulebook but, if he is found guilty and fined heavily, his legal team may still consider taking his case to the courts by claiming restraint of trade.

If he was ultimately successful, there could be serious ramifications akin to the Bosman ruling as players would no longer be restricted from seeking a move before the end of their contracts without the prior agreement of their club.

It is a potential move which has already been criticised by Cole’s manager, Arsene Wenger, who is determined to keep the full-back at least until the end of his current contract in 2007.

However, Cole’s lawyers must first learn his fate when the three-man commission, chaired by High Court judge Sir Philip Otton, rule this afternoon on the allegations after a two-day hearing last month.

Cole, who played in England’s friendly against Colombia last night in the United States, and Mourinho, who is on holiday, were not due to be in attendance, although Chelsea chairman Bruce Buck was set to be there, along with legal personnel.

Chelsea look set to avoid the maximum penalty of being docked points, possibly from the start of next season, or a block on transfer activity this summer.

It appears more likely that they will instead be fined – possibly up to £250,000 – with one of the biggest financial penalties ever handed out, but still relatively small change for billionaire owner Roman Abramovich.

Cole himself could also be fined, which would be likely to place greater strain on his relations with Arsenal, while Mourinho could face a similar punishment.

Any fines would be expected to dwarf the Premier League’s existing record to Liverpool of £20,000 for making an illegal approach to Christian Ziege, while he was at Middlesbrough in 2000.

The Germany defender was fined £10,000, while Aston Villa were more recently warned and ordered to pay costs for making an illegal approach to James Beattie in 2004.

The current case followed allegations that Mourinho, Cole and Chelsea chief executive Peter Kenyon met at a London hotel, along with Cole’s agent Jonathan Barnett and Chelsea’s ‘super agent’ Pini Zahavi, in January.

Cole has been charged under Rule K5, governing approaches from players to clubs, while Mourinho was charged under Rule Q, governing a manager’s conduct. Chelsea’s charge under Rule K5 governs clubs approaching players.