The England international striker may take a significant pay-cut on his current £100,000-a-week-plus contract to join the Toffees this summer...
The Magpies are currently 18th in the Premier League table, three points from safety, and it is highly unlikely the 29-year-old will stay at St. James' Park if they are relegated to the Championship.
However, it is claimed that the Toffees will move for the 89-time capped England international, who has scored 40 goals for his country, whether or not the Toon maintain their top-flight status.
Although Newcastle manager Alan Shearer has not given up hope that Owen will sign a new contract, it appears that the former Liverpool and Real Madrid star is ready to leave the club when his current deal expires this summer.
Apparently, the 5ft 8in forward is prepared to take a significant pay-cut on his current £100,000-a-week-plus deal to join Everton, the club he supported as a boy.
Manchester City, it is said, may also make an approach for the prolific goal-scorer, but it is thought he will favour a move to Goodison Park as it is close to his home in Cheshire.
Ricky Brooks, Goal.com