The 28-year-old England international has dismissed talk of a new contract and "a club spokesman" confirmed there has been no deal put on the table.NUFC spokesman: "We have not started any negotiations with Michael over a new contract."
Owen has only made 36 starts in three years and his four-year contract will end in the summer of 2009, having cost Newcastle a staggering £37,424,000. £16m in transfer fees and £21.4m in wages.
All players have been told new contracts will not be re-negotiated until the relegation fears are over.
Relegation to the Championship would be a disaster.
Owen (talking to the Evening Chronicle): "There have been no talks on either side about a new deal and nothing has been mentioned about my contract.