Michael Owen has opened new contract talks at Newcastle United.

The England ace's current deal runs out at the end of next season and he has been told by Toon owner Mike Ashley to take a pay cut on his current £100,000-a-week wages.

That left Newcastle fans fearing he would leave but the former Liverpool hitman said last night: "We've just opened contract talks, we are talking.

"I've got this season left regardless and we're working on a deal to stay longer.

"There'll probably be news in a month or two.

"This last year I played fully without hiccups to my knee. That's well behind me now."