Jose Mourinho labelled him a "phenomenal player" at his press conference later that day but both the United boss and Manchester City manager Pep Guardiola were tight-lipped about a potential move for the forward.
City's stance has put United in pole position to win the race for Sanchez, who is determined to leave Arsenal this month rather than wait to move as a free agent in the summer.
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Discussions are believed to be underway between Klopp and Liverpool's owners, Fenway Sports Group about lodging a potential bid for Sanchez, although it will be hard for the Merseyside club to persuade the Chilean to move to Anfield due to both City and United being able to offer significantly higher wages than the Reds.
And Cole believes that Mourinho needs to take advantage of this window of opportunity to sign Sanchez this month.
"I think there is confidence on the red side of Manchester that they have the fee that Arsenal are looking for and they maybe have a player in Henrikh Mkhitaryan that might certainly catch Arsene Wenger's eye. He'll have the choice of a lot of clubs and, if United could get him, it would be a massive signing".
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United made a shock £25m move for Alexis Sanchez earlier this week after months of us all assuming that his move to Manchester City was an all but certainty.
Speaking on BT Sport on Saturday, Ferdinand said that Sanchez would be better off joining City than his former employers.
"The only word I can say is he is a phenomenal player, apart from that Arsenal player and I feel I shouldn't say much more than this".
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