Owen ready to quit Newcastle over contract snub

Kevin Keegan is desperate for the board to secure the services of his skipper and star striker on a long-term contract.

But more than six weeks after negotiations were supposed to start, Owen's representatives are still waiting for a first proper meeting.

Scroll down for more

Cut and run? Owen may look for a move if Newcastle try to slash his pay

Any move to cut Owen's current salary of £120,000 a week to nearer £80,000 could end his three-year stint at St James' Park.

Everton would be interested in exploring the possibility of luring the former Liverpool star back to Merseyside. It was the team he supported as a boy and where his father Terry once played. Given the opportunity to play for the right club, Owen would probably take a pay cut.

A move to a top-four side is unlikely. Both Owen and Manchester United were perplexed by reports of a possible move to Old Trafford, while Rafa Benitez's reluctance to sign him from Real Madrid three years ago suggests there is little chance of a return to Anfield. Neither Chelsea nor Arsenal have expressed an interest.

Owen has been instrumental in Newcastle's resurgence under Keegan and will not be impressed if the management challenge him either to accept a pay cut or try to secure a better deal elsewhere.

For their part, Newcastle may question whether Owen gives value for money when outstanding payments to Real Madrid, combined with a three-year deal, could amount to more than £20million for a 28-year-old who has been plagued by injuries.

Losing Owen would be a nightmare for Keegan. The striker was high on the agenda at Keegan's meeting with owner Mike Ashley and the Newcastle board last week and has publicly declared his desire to keep Owen. With money for replacements tight, Keegan does not believe he would be able to sign a striker of the same quality.

Everton could interest Owen. They are moving in the right direction under David Moyes, who is looking for financial backing to challenge for a top-four place before committing his future to the club.

If Moyes remains, Owen could find the chance to play European football for one of the finest young managers in the game more attractive than staying at a club who no longer value him as much as they once did.