The Toon boss knows that he could do little to stop Kieron Dyer and Nobby Solano moving to West Ham simply because both were determined to go, regardless whether he wanted them to stay or go.
Player's contracts are not worth the paper they are written on, and if Michael Owen wants to join Manchester City in January or the summer, Allardyce knows it would be pointless trying to stop him.
Sven-Goran Eriksson is understood to be preparing an offer in an attempt to sign him.
Sam Allardyce: "If Michael was as determined as some players are when they decide that they want to go it would be a different story.
"There is no clause in Michael Owen's contract - full stop. Michael cannot leave unless we want him to.
"At the moment we're all just hoping Michael stays fit and continues playing for Newcastle until the season has ended. If he does that, we can have a good look at the situation then."