Al-Hilal's negotiations with Newcastle are being conducted by a mediator who offered the club an opportunity to have Owen available for their AFC Champions League campaign, according to the paper.

The Saudis will have an option to turn the loan deal into a permanent one in case Al-Hilal clinch the Champions League title, allowing them to play in the FIFA Club World Cup.

If the mediator successfully concluded the negotiations with Newcastle, Al-Hilal will be ready to table the lucrative bid.

Owen has finally returned from a lengthy spell on the sidelines after sustaining an injury during the World Cup finals.

However, he is yet to produce the form which once made him one of the best strikers in the world.