Rumour Mill: Owen and Woodgate to join Liverpool?

The Reds would have an option to buy Owen at the end of the season, while Woodgate's loan spell would be to improve his fitness after his long term injury.

Rafael Benitez has already stated he is in the market for a centre-back and the former Leeds and Newcastle man would fit the bill perfectly.

A key factor in the deal would be the sale of Milan Baros to Aston Villa, with Liverpool determined to hold out for £7m for the Czech striker.