Newcastle manager Kevin Keegan is confident Michael Owen will sign a new contract that will see him remain at the club beyond next season.
The 28-year-old's current deal expires next summer and Keegan has left all negotiations in the hands of chairman Chris Mort.
"It's for Chris Mort to do that now," he said.
"I have made it absolutely clear what I think should be done, and I have passed that on to him."
Keegan added: "He will handle that now so any questions about that will be between Chris Mort and Michael's advisors.
"But my feeling is, genuinely, that he wants to be here, he wants to help lead this club for the next few years.
"I don't want to tempt providence, but I think that is a deal that will be done as soon as they get together, really. I don't think it will take long."
Owen has been beset with injury problems since his club record £17m move from Real Madrid in 2005.
He missed most of last season after suffering a serious knee injury while playing for England at the 2006 World Cup, but has returned to form in recent games with four goals in his last five matches.
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