Real Madrid make Newcastle favourites for Owen

Real Madrid are refusing to allow Michael Owen to move to Liverpool on-loan.

Real Madrid told Owen he can leave only on a permanent deal after accepting an £18million bid from Newcastle. That is a shattering blow to his hopes of a dream return to Anfield.
 
Real want Kop boss Rafa Benitez to match Toon's bid.

But after he left Liverpool for £8m last year, Benitez is unlikely to pay more than DOUBLE to get Owen back. Owen, 25, admitted yesterday he is holding out for a Kop bid - although he would be prepared to join Newcastle, but only on loan.

Boss Graeme Souness put a loan deal to Real president Florentino Perez, but it was dismissed.

Owen declared: "I said my ideal situation was to start the season in the Real Madrid team and if not I would prefer to return to Liverpool."

"The Real president understood and said he would try to help me achieve this."

"If the transfer cannot be finalised in time I have agreed to go to Newcastle - but only on a one-year loan."

"I need to be playing regularly in World Cup year."