The News of the World's Andy Dunn believes that Owen, would jump at the chance of playing at Old Trafford.
Dunn: "£7million is the price that Sir Alex Ferguson can buy Owen at now, which is not unreasonable considering he has just one year left on his contract.
"I think he is someone that Sir Alex has looked at for some time but the time has never been right.
"There have been some doubts about Michael's fitness which I think he has proved he can probably get over those with the way he has played in the last three or four months.
"And doubts about the price which Sir Alex has probably felt was a bit inflated at times. He couldn't have moved from Liverpool to Manchester United, I don't think that would have been a possibility.
"I was at Sir Alex's press conference on Friday and he did say that he was going to strengthen in the summer and he hinted that an experienced striker was what he was looking for as well.
"He spoke about the two big games coming up but then he always lets himself drift into the future, creating this dynasty of players.
"He is the master at strengthening from a position of strength, which is what he did last summer, he brought Hargreaves, Tevez, Nani and Anderson.
"I think this is one area where probably thinks Giggs has got one season left, maybe one and a half. He's got young kids like Danny Welbeck and Manucho who has been on loan at Panathinaikos.
"Maybe he's thinking he can get in an experienced striker and then bed the kids in.
"He's always thinking ahead. I just think Owen is a player who he always thought 'I wonder what he would be like in a Manchester United side'
"The circumstances are right, clearly with the trouble at Newcastle Michael won't sign a contract extension and take a pay cut, why should he?
"So he can get Owen now, effectively on the cheap."