Real Madrid to offer Owen for Arsenal's Reyes

Real Madrid are ready to offer striker Michael Owen to Arsenal in exchange for Spanish whiz Jose Reyes.

The Sunday Express says Real president Florentino Perez has been alerted to Reyes' homesickness and is aware the former Seville striker is becoming increasingly unsettled at Highbury.

Reyes confirmed last week that he snubbed Real to sign for Arsenal last year and left the door open to a move to the Santiago Bernabeu in the future.

Owen has enjoyed an impressive first six months at Real, but has failed to nail down a regular start and is highly admired by Gunners boss Arsene Wenger.