The Mirror claims Newcastle will have to offer Owen a £20million new deal to keep him at St James' Park.
Megga-Bucks Owen A Financial Problem!
Mirror: "Kevin Keegan wants to open talks with the England striker in the summer.
"Toon want to protect their £16m investment as Owen's contract expires in June 2009 and the club do not want to lose him on a free transfer as early as January next year.
"Owen will not accept a pay cut on his £5m plus-a-year salary and, to keep the No.10, United would have to compete with the length of contract Premier League rivals could offer.
"Liverpool, Manchester City and West Ham will monitor developments.
"The Toon skipper, 28, has scored 11 goals in 25 league starts and six sub appearances since signing from Real Madrid in August 2005."
Liverpool, Manchester City and West Ham?
Liverpool's Rafa Benitez has said all along he would not be interested if Owen became available; and neither Man City or West Ham offered a penny in the January transfer window.
Perhaps on a free transfer, yes.