Newcastle United boss Sam Allardyce has shrugged off talk that he is trying to flog Michael Owen around the Premiership.

Allardyce said: "It is December, it is speculation time. It is volatile in terms of what is being bandied about throughout the whole of the media world in football.

"The speculation goes with agents or anybody ringing you up for whatever reason and mentioning or talking about one particular player, and straight away, you are either going to buy him or another rumour comes around and all of a sudden, you are selling.

"Certainly at this moment in time, my squad coming to January is going to be depleted by four players going to the African Nations Cup, and there is no room for me moving any players out of this football club.

"It is about, if anything, bringing some players in to bolster the squad, not just for the players who are missing for the African Nations, but hopefully, if it is there, to get us better to see us through this season."

Asked if he had spoken to Manchester City boss Sven Goran Eriksson, he replied: "We have not had a conversation regarding Michael Owen."