Heskey is a hero in Oz where he has notched nine goals in 22 games for the Newcastle Jets since joining them at the start of this season.
He told The Sun: "Playing in Australia would have been great for Michael.
"He has had a great career and I am sure he would have a lot of takers out here if he wanted to prolong his playing career.
"Our owners love their horses too, so I am sure he would fit in with them.
"It would be great to link up with him again. It would be like rolling back the years."