Negotiations for a new Owen contract begin © EuroFootball.com

The club starts preliminary negotiations regarding a new team star Micheal Owen's contract. His contract expires in a year and since then any club could freely hire him.

Club representative Rik Perris met with the player's agent Tony Stephens last week and discussed the possibilities of a new long-term contract.

This year, the 24-year-old forward has been linked with football giants like Madrid and . Nevertheless, "Real" rejected these talks.

The club wants to extend the contract before the 2004 European Championship, as successful performance in the tournament could increase the player's value. "Liverpool" plans to conclude negotiations with the player's representatives next month.

The club's management also stated that they are willing to pay the player 90 thousand pounds per week, making him the highest-paid player in the club's history. Currently, Owen receives 60 thousand pounds per week.

The player himself has stated that salary is not the most important thing for him. He said that besides himself in the team, he would like to have another good forward and several good defenders.