The England striker, whose deal runs out at the end of the season, is ready to leave Newcastle on a free transfer if he his not granted an improved contract.

Owen earns £105,000 as a weekly salary but he asks for more to stay at St James' Park.

The 28-year-old will be hoping to persuade Newcastle officials to accept his demands, having enjoyed playing under boss Kevin Keegan during the latter stages of last season.

"We had a good time of it last season, especially towards the end," Owen said

"There was a feelgood factor about the club and we were buzzing."

Owen joined Newcastle from Spanish giants Real Madrid in 2005, but a succession of injuries restricted him to just 47 appearances for the Toon.