Newcastle United are to re-open contract negotiations with England striker Michael Owen. Toon managing director Derek Llambias has no intention of losing a prized-asset without a fight.

"We offered Michael a new contract and he has chosen to walk away and think about his future," he told the Evening Chronicle.

"It's not on the table any more after 1st January. But we'll be sitting down with him again soon and seeing what he wants to do.

"It's difficult - he's a goalscorer who has 10 already this season in the games he's played.

"It's down to Michael. He's done his term here, and it was lucrative, but he's decided he wants to wait until the end of the season.

"So it's a case of watch this space."