Newcastle want Michael Owen to take a £25k pay-cut with new deal

Michael Owen will have his basic pay CUT by £25,000-a-week in a Newcastle deal - even though they want him to stay.

The striker will have to play to get paid big money as part of a three-year offer being tabled this week.

Michael Owen (Pic:Getty)

The England striker will have his basic wage of £105,000 a week cut to around £80,000 as owner Mike Ashley looks to get top value out of the marksman.

Owen has made just 51 starts since signing for £17 million in August 2005 because of injury and his new deal is heavily incentivised to protect Newcastle from further injury setbacks.

The 29-year-old will have stay fit and earn bonuses through appearances, with an 80 per cent target set, plus goals targets and extras or Newcastle putting together a successful season including chasing trophies.

Newcastle have indicated that a "very good offer" is on the way to Owen which could be discussed with boss Joe Kinnear today.

Owen is likely to hold back and see if any of the big four - or even Spurs, Everton and Manchester City - come through with offers next month when he is free to talk about a free transfer.

Kinnear wants him to stay until the end of the season at least, and is attempting to juggle his limited transfer budget.

He wants West Ham's Matthew Upson to bolster his defence, and is also monitoring Stephen Warnock at Blackburn, but may have to sell.

One victim is Jose Enrique, bought by Sam Allardyce for £6million. The Spaniard had one of his best games in the 3-0 win at Portsmouth, but if Kinnear can find a replacement he says he could be on the way.

Kinnear said: "If we can get like-for-like then I'll lose one. We've gone down that road already but I got a knock-back. If we'd got John Arne Riise in - he's changed his mind - then I could have done something with [Jose] Enrique.

"Riise's got back in the team at Roma and his agent has told us that he's happy to stay until the end of the season. I want them now really."

Kinnear would also like a powerful central midfielder but Nicky Butt will sign a new deal this week, ahead of reaching the 19 appearances he needed to trigger a clause guaranteeing him a year extension.

Get your hands on this week's estimated jackpot of £100,000 by playing the New Football Pools .

Find out what our resident Premier League fan bloggers think - and let them know your views.

Follow every Premier League game live with our brilliant Match Tracker .

Get your hands on this week's estimated jackpot of £100,000 by playing the New Football Pools .

Find out what our resident Premier League fan bloggers think - and let them know your views.

Follow every Premier League game live with our brilliant Match Tracker .