Beckham raptured his Achilles while playing for AC Milan on Sunday and will miss the World Cup.
Cole said: “It’s devastating news for David, his heart was set on going to a fourth World Cup. He will be heartbroken.
“It’s not a nice injury, there’s a lot of pain and it’s a long way back.
“But he’ll come back from the injury, I don’t think he’ll want to retire on this note.
“He’ll work his socks off to try to get himself fit.”