Owen may stay at Newcastle

The arrival of Alan Shearer at the Toon and the departure of Dennis Wise could signal the dawn of a new era at St. James' Park, and there's even better news for the Toon as Michael Owen could now sign a new contract at the club.

It is believed that the ambition shown by Mike Ashley has given the England international striker reason to consider signing a new deal.

There had been rumours that Tottenham and Chelsea could make a move for the forward in the summer, who would be available on a free transfer.

However, Owen could now put pen to paper on a new two year deal.