The former Liverpool and Real Madrid forward has said he is currently in talks with the United board with a view to extending his current deal, which ends in 12 months.

United are keen to resolve the situation as Owen will be free to negotiate a move away from Tyneside come January.

Speculation over the England man's future has been ongoing for several months, but the player has denied he is looking for a move and hopes to secure a deal over the summer to stay with the club.

Speaking on the At The Races programme, Owen said: "We've just opened contract talks, we are talking.

"I've got this season left, regardless, and we're working on a deal to hopefully stay longer.

"There'll probably be news in a month or two."

Owen says the talent at the club is one of the main factors that contribute to his happiness at St James's Park.

"We've got a lot of good players. We haven't got a massive squad and we don't want size for the sake of size," he added.

"I'm like any Newcastle supporter – I want the best players."

The striker was signed from Real Madrid on a four-year deal in the summer of 2005 by Graeme Souness.

He has scored 20 goals in all competitions for the Toon.