Big Sam says: "I cannot stop Owen if he decides to leave. There is a clause in his contract and it is up to the player."
Sven-Goran Eriksson will make the most of having a £50million transfer kitty according to Stefan Lundin, chairman of the Association of Swedish Football Coaches.
Sven Has £50m To Spend - Owen Rumours Continue
Lundin remains impressed at the former England manager's record at club level.
He said: "I do think his record in the transfer market is a good one. People should remember the success he has had with various teams across Europe."
It is understood Eriksson has started to identify his transfer targets and Owen is top of the tree.
Eriksson has not coached a club side for seven years after leaving Italy and Lazio to join England.
He first came into the spotlight with Gothenburg then had spells with Benfica, Roma, Fiorentina, Benfica again, Sampdoria and then Lazio.
The new manager's first priority will be to strengthen City's attacking options.
Last season they only managed to score 10 goals in 19 home Premiership matches - a record low for the top flight.