Owen is looking for a new club after allowing his Magpies deal to expire and a number of Premier League clubs are considering a move.
The likes of Hull City and Stoke City have signalled their intent to bring him in but it now seems Premier League champions Manchester United have also entered the chase.
Sky Bet have slashed their odds on the 29-year-old moving to Old Trafford amid claims that tentative talks have taken place between Owen's representatives and United officials.
Sir Alex Ferguson is keen to bolster his strike-force following the departures of Carlos Tevez and Cristiano Ronaldo
Karim Benzema had appeared to be a primary target but the Frenchman is now on his way to big-spending Real Madrid.
Free agent Owen would be a much cheaper option but United have yet to make any comment on the reports.