Newcastle chairman Freddy Shepherd has questioned how serious Liverpool boss Rafael Benitez was in his attempts to re-sign Michael Owen in the summer.
Owen left Real Madrid after Newcastle outbid Liverpool to clinch a £17m deal but Benitez has hinted the striker may yet make a permanent return to Anfield.
Shepherd told the Daily Mirror: "Does Benitez really think that the public do not know the facts and are stupid?
"It was Newcastle United who did everything they could to sign Owen."
On Boxing Day, England star Owen is set to face Liverpool for the first time since he left Anfield in the summer of 2004 to join Real.
Shepherd added: "We are happy with what we have bought and Michael is more than happy to be here."