LIKE many people at this time of year, Michael Owen is going home for Christmas, but the striker is distinctly unnerved by the prospect. On Boxing Day, the 26-year-old will run out at Liverpool as an opposition player for the first time in his glittering career and, while the sights and sounds of Anfield will be deeply familiar, he scarcely knows what to expect.

The England forward, who scored 158 times in 297 appearances for Liverpool before moving to Real Madrid last year, is guaranteed a fond reception, although there may be a wistful tone in the reaction.

Peter Crouch is gaining cult status on Merseyside, but Owen’s goals have been missed, while the striker’s own testing experience in Spain made him yearn for his former habitat.

Liverpool’s reinvention as European champions came too late for Owen, whose natural inclination to return there last summer was not reciprocated with a big enough offer to tempt Real. Instead, he joined Newcastle United for £16.5 million, earning him the immediate adulation of the Geordie public with a decision that he still declares himself comfortable with.

Yet Newcastle’s visit to Liverpool can only prompt mixed emotions. “When I knew I was coming back to the Premiership, I always thought it would be strange to go back to Anfield,” Owen said. “But I’ll deal with it when the game comes along — I’ll cross that bridge when it comes. I’ve not thought long and hard about it yet, but I’ve got a picture in my head of what it will be like going back. It will be exciting seeing a lot of old friends and it’s something I’m looking forward to. It will be a strange one as I never thought I would leave Liverpool. I’ve been there since I was 11.”

The thought will be equally bizarre for fans, many of whom were outraged when their club refused to meet Real’s valuation for one of their own, even if he had originally left for a fraction of the price.

While Freddy Shepherd, the Newcastle chairman, has been at pains to point out that there are no get-out clauses in Owen’s contract and the player has settled in a new house with his family, the conspiracy theorists who claim that he will leave — possibly to go back to Liverpool — after the World Cup finals have not quite been silenced. Seven goals in eight league starts can only have jolted other predators.

“I signed a four-year contract with Newcastle United and I’m very pleased with that decision,” Owen said. “If we can keep improving and winning games and get the players on a roll, it will be an exciting place to play.

“I didn’t come to a club that was top of the table. When I joined, Newcastle were second bottom and I came prepared for a fight. Fortunately, things have improved since then.”

Owen will find Liverpool in a recognisable, yet exciting, state.According to Rick Parry, the chief executive, the club are on the threshold of consistent achievement, a position that they found themselves in three years ago under Gérard Houllier. Then, some spectacular failures in the transfer market undermined their progress.

“I’ve been optimistic about our future before, but not more optimistic than now,” Parry said. “In 2002 it was also looking good. Just like then, the foundations are there for us and now it’s about kicking on and taking the next step. We’ve just got to keep on doing what we’re doing, keep on improving and make sure the players we acquire are of the right quality. That’s the key. Not to buy the wrong players and make rushed decisions.”

Fitness permitting, Owen will play alongside Alan Shearer at Anfield, although Graeme Souness has given warning that the latter may have to be used sparingly over the festive programme. “We’ll have to make sure that we take care of Alan,” the Newcastle manager said. “There are an awful lot of games in a very short space of time and we have to be sensible.”