It is understood the 25-year-old has indicated he could be willing to make a move to St James' Park if neither the Manchester Buckaneers or his former employers make a move for him.
While no-one on Tyneside is getting carried away by the news, it at glimmer of hope as Graeme Souness' search for a striker continues.
Their interest in Owen is long-standing, and although they always knew the chances of landing him were slim there is greater optimism than there was at the start of the week when chairman Freddy Shepherd cancelled a planned trip to Madrid to step up the pursuit.
The encouraging development came a day after the Magpies confirmed they had pulled out of their attempt to sign Fenerbahce's Nicolas Anelka at the Turkish club's request, although there have been suggestions since that the Frenchman could yet agitate for a move himself.
But what is not in any doubt is that Newcastle have to move fast if they are to avoid leaving Alan Shearer, who celebrates his 35th birthday on Saturday 24 hours before his side's opening Barclays Premiership fixture at Arsenal, fighting alone.
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