That represents a significant switch in opinion since May, when he responded to months of courtship from the northeast club with a polite rejection, but his firm preferences would be to return to Liverpool, his former club, or join Manchester United, whose priority is a new midfield player and who have drifted from the running.

Signing Owen would represent a coup to match Newcastle’s acquisition of Alan Shearer from Blackburn Rovers nine years ago, but their chances remain distant. Having been asked not to force the 25-year-old into making an immediate decision on his future, patience is the strongest ally of the Newcastle chairman.

A loan deal represents the most likely scenario, although Newcastle would propose a permanent transfer were they to receive the slightest encouragement from Owen, who remains hopeful that Liverpool will harden their interest. That would depend on Rafael Benítez being persuaded to do so by his board of directors and Milan Baros, the Czech Republic striker, being shed from the wage-bill.

It is understood that Baros’s agent was at Anfield yesterday and that a season’s loan at AS Monaco has been proposed. As part of that deal, Baros would sign a two-year contract extension with Liverpool, maintaining his transfer value, and theoretically creating space for Owen’s arrival.

Graeme Souness has been unstinting in his efforts to bolster a severely-reduced first-team squad, yet Newcastle have been sluggish in attracting new players to the club. The on-off saga involving Francesco Coco, the Inter Milan defender, may have been revitalised by the Italian club’s reported offer to pay his wages while on loan at St James’ for the season.

But there has also been a botched attempt to prise Roudolphe Douala, of Sporting Lisbon, from Middlesbrough’s grasp, which was only scuppered when Souness reiterated that Luis Boa Morte, of Fulham, was his primary target for an attacking midfield role.

It has been reported that Newcastle have offered an improved £5 million bid for Boa Morte, but that suggestion was played down by sources at the club. The Portugal international and his agent met Fulham officials yesterday to discuss his position, when the player was again told he would not be permitted to leave for less than £6 million.

Middlesbrough believed they had a £4 million deal in place for Douala’s signature on Wednesday evening, on the basis that the 26-year-old Cameroon international would not participate in Sporting’s Champions League qualifying match at home to Udinese. A party representing Newcastle subsequently bettered that offer and Douala played against the Italian side, leaving him cup-tied for the initial stages of European competition.

Souness’s lack of enthusiasm for Douala forced Newcastle into retreating from any prospective deal, which has provoked disquiet at Middlesbrough, who will, however, reopen negotiations with Sporting. Now that Douala is ineligible for the Uefa Cup group stage, they will attempt to reduce the fee.

Tottenham Hotspur yesterday opened a third round of discussions with Shepherd regarding Jermaine Jenas, having had two bids rejected. Spurs have offered £6.5 million for the England midfield player, but the clubs are miles apart.

Explore Football

• Premier League

• Football League

• Scotland

• European Football

• International Football

• TheGame

• Live Match Tracker

• The Fink Tank

• Fantasy Football