"Hopefully Alan will obviously keep the job, take the job and it'll start coming back for them. I know him well. I like him as a friend as well," Owen told Sky Sports News.
"Even just in the few weeks that he took over everyone can see that there's something there and he'll be a success in management.
"He'll be great for Newcastle to have. He's got a real feeling and passion for the club and that's what they need at this time."