Everton boss David Moyes is considering rescuing Michael Owen from relegated Newcastle United.

The Daily Mail says Moyes will meet chairman Bill Kenwright next week to discuss transfer funds and targets, and a bid to take Newcastle's former Liverpool and England striker Owen back to Merseyside is believed to be on the agenda.

Moyes explored signing him last summer and is ready to look at it again with Owen, 29, out of contract following Newcastle's relegation from the Premier League.

However, Everton not only expect him to more than halve his £110,000-a-week wage but are eager for a pay-as-you-play clause.

Owen, a boyhood Everton fan, wants to play on at the highest level. Wigan are also interested.