England only need a point to guarantee progression to the knockout phase following their disappointing 0-0 draw with Ghana on Tuesday night.
The result led to mass criticism of manager Thomas Tuchel over his squad choices and the team who looked toothless and without a spark throughout the game.
However, as tensions rise, Owen has backed the Three Lions in his Daily Mail column as he tries to calm the media and supporters down.
“Trust me, the players will not be sitting in their hotel rooms thinking, 'Oh, I'm the worst player and we're the worst team'. They'll be reminding themselves they scored four goals in their previous game. They'll be reminding themselves they have world-class attackers.
“They'll be reminding themselves they already have four points from two matches. And so they should. This is a perfectly healthy position to be in. In fact, if somebody had offered England this before the tournament started - this is a harder group than most - then I think you would have accepted it.”
“There's also another reason I think the reaction is over the top. This 48-team format is incredibly forgiving. The days when one poor result could send a major nation home are gone. England are virtually through already. If anything, now was the time to have an off-day.
“I've joked throughout this tournament that you could almost go to sleep for three weeks and wake up when the knockout rounds begin, because that's when the real competition starts. The group stage is important, of course, but it's more about building rhythm, managing fitness, rotating players and finding momentum.”
Already eliminated owing to back-to-back losses to Ghana and Croatia, Panama will play for pride against England on Saturday night as Tuchel’s side aim to top the group and progress to the Round of 32.