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

The Mail on Sunday says Owen is set to dash Newcastle's hopes of him signing a new contract this weekend.

Manager Joe Kinnear was convinced the England striker would end weeks of speculation by agreeing a deal before Christmas. But it is believed Owen is planning to wait until the summer.

That should alert several Premier League clubs, with Everton and Manchester City among those who would be keen to sign him.