He said: "It is a different situation between Michael and Robbie (Keane). We were looking for a striker with Robbie's quality to come in and help and he understood his role.
"It is different with Michael. He is younger and still has years to play at a good level. He rightly wants to play every game.
"But if you talked about who would play as my striker most of the time, I would have to say we are really pleased with Fernando Torres."
Owen scored 158 goals in 297 appearances for Liverpool in an eight-year spell.