Real Madrid are hoping to sign Arsenal's Jose Antonio Reyes and are rumoured to be prepared to offer Michael Owen as part of the deal.
Owen signed for Madrid for £8m last August and is the club's leading goalscorer but is not starting many games for the Spanish giants, only getting a few minutes as a subsitute here and there.
Michael Owen's greatest moment as a footballer came against Arsenal when he scored twice in the last eight minutes to win the FA Cup for Liverpool.