Real warning on Owen

Real Madrid have warned they will not let Michael Owen go on the cheap as the England striker tries to negotiate a return to the English Premiership

Real Madrid have warned they will not let Michael Owen go on the cheap as the England striker tries to negotiate a return to the English Premiership.

Newcastle have already had a club record bid, believed to be 16 million pounds, accepted by the Spanish giants.

However, Owen has admitted he would prefer to rejoin Liverpool, who are reported to have offered far less for the 25-year-old England striker.

"We have received two bids from England, one of which has been accepted already. The other will be discussed by the directors today," Real vice-president Emilio Butragueno told The Independent.

"If Owen doesn't want to join a particular club after we have accepted a bid then he will stay and fight for Real.

"`We can review the situation in January or at the end of the season if nothing happens this week."

Owen flew to England for talks with both Liverpool and Newcastle after being left out of the Real side for Sunday night's Primera Liga match at Cadiz, where his club won 2-1.

He was not even on the bench for the opening game of Real's league season, fuelling speculation Owen has played his last match for the club.

He left Liverpool for Spain in an 8 million poundmove just last summer but is keen to return to Merseyside, providing agreement can be reached with Real.

Newcastle were told Owen would consider a loan move to Tyneside, and then a club-record bid upped the stakes when it was accepted by the England striker's current employers.

That left Liverpool with plenty to consider if they are to bring him back to the club where his career began.

Benitez, who has played down his club's interest in Owen, may not have the funds to match Newcastle's offer, but that could alter if Marseille or Monaco follow up their interest in Djibril Cisse before the transfer window closes on Wednesday.

Real are chasing Sevilla defender Sergio Ramos and need the proceeds from Owen's sale to activate an 18.4 million pound buy-out clause in the 19-year-old's contract - having already spent almost 40 million pounds this summer on Brazil pair Robinho and Julio Baptista.