Real Madrid tell Arsenal: £16M cash for Owen

Real Madrid have doubled Michael Owen's price-tag after receiving an approach from Arsenal this week.
 
The Gunners want to sign the England ace, but Real are now demanding £16 million for the England star - having paid just half that amount for him 12 months ago from Liverpool.

Arsenal striker Jose Reyes has again been mentioned as a swap - but Real have snubbed the enquiry. The Madrid giants do not believe Reyes' form last season stacks up next to Owen's and insist that the Gunners must include a cash component if they want the England ace.

Indeed, Real coaches don't even see Reyes as an outright striker and would only consider the ex-Seville man as a left-sided attacking winger.