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Fed-up Owen ready to run down Newcastle contract

Michael Owen is ready to run down his contract at Newcastle United.

The Sunday Express says Owen will run his contract down and leave on a free transfer rather than agree to take a pay cut as Newcastle United owner Mike Ashley insists on slashing the St James' Park budget.

The England striker is on a staggering £115,000-a-week deal on Tyneside - one which brought Ashley out in a cold sweat when he bought the club last year.

Ashley has drawn up a reduced contract for the striker of around £80,000 a week - the new wage ceiling at the club.

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