Carragher is being urged to reverse the decision given the way he is playing.
Owen told the Daily Express: "Of course he could carry on playing. I still think I could score goals in the Premier League, but they say go out when you're at the top. There are players who love the game and will continue playing in the lower leagues, but it holds no excitement for me. That's not being disrespectful. I understand where Carra is coming from. I'm 33 and I feel I can play for two or three more years, but to the same standard that I am used to? No.
"I'm only going to get slower and worse, and it's frustrating when you know you were very good and now you are only average. It is painful. Going on to the pitch doesn't hold the excitement for me like it used to."