"I met the Real Madrid president before last night's friendly at the Bernabeu and we discussed my future," said Owen.
"I said that my ideal situation was to start the season in the Real Madrid team and if not I would prefer to return to Liverpool.
"The president understood and said he would try to help me achieve this.
"If the transfer cannot be finalised in time I have agreed to go to Newcastle United but only on a one-year loan. I need to be playing regularly in a World Cup year.
"I am most grateful to Senor Perez for his personal concern about my career. I have really enjoyed being part of his Real Madrid team."