Stoke City have failed to strike a deal with the ex-England star, who also insists he is not prepared to drop into the Championship.
Owen said: "If a good opportunity doesn't come my way, then so be it. At this stage of my career, it has to be something that I'm going to enjoy doing. I'm not being disrespectful when saying I wouldn't play in the Championship.
"I always said I wouldn't drop down the leagues like some have done. I know I can still bang them in at the top level.
"I proved that nearly every time I played for Manchester United. At 32, I have still got a few years in me."