Moyes made an unsuccessful bid for Owen last summer and remains keen to bring the 29-year-old to the club he supported as a boy.
But sentiment won't be the incentive put to the former Liverpool player. It will be a hard-nosed business proposition.
Everton believe they represent Owen's best option. They have finished fifth in the Premier League for the past two seasons, qualified for the Europa League, and give him the opportunity to play his way back into the England squad.
Owen will be 30 by next summer's finals in South Africa and realistically it is his last chance of a tilt at the game's ultimate prize. Moyes considers it a risk worth taking.