Real Madrid president: We'll resist Arsenal, Newcastle offers for Owen

Real Madrid president Florentino Perez says he will hold onto Michael Owen over the summer - despite the interest of big spending Arsenal and Newcastle United.

Liverpool and Bolton have also expressed interest in the England ace, but Perez says: "Michael Owen is priceless and will remain in the shirt of Madrid for a long time to come."

"We have never discussed or considered selling him. No amount of money will persuade us to allow Michael to leave. He is a valuable member of our squad and will remain so."

Owen is likely to seek reassurances from Madrid that he will be more involved next season, but Perez added: "Michael is a world-class finisher at the world's biggest club."

"The Madrid fans adore him and I can assure in time he will go on to make the first team shirt his own."