The News We've Waited MONTHS To Hear!
Owen has endured two injury-ravaged seasons since joining the club from Real Madrid and the rumours linking him with a move back to Liverpool have been fueled by Steven Gerrard saying "I would love to see Michael Owen back at Anfield".
Owen has made just 14 senior appearances for the Magpies since making a £16m move from Real Madrid in August 2005.
But the 27-year-old has finally given new boss Sam Allardyce the promise he is at St James' Park to stay.
Owen: "I believe that these can be good times to be at Newcastle, which is why I am more than happy to be here.
"There has been plenty of speculation about my future, but I can assure the Newcastle fans that I didn't start any of it.
"There was a lot of talk from other quarters and my attitude to rumour has always been to ignore it.
"I prefer to let my actions speak for themselves and I just wish there had been more opportunities to show the Newcastle fans what I am capable of. I am sure that is to come this season.
"It has been an eye-opener to see the innovations from Sam Allardyce. We've been on a training camp in Austria and from bike rides at 7.30am to Pilates in the afternoon, we've been shown a different approach to the traditional slog of pre-season.
"That is just one small but significant part of the multitude of changes happening at Newcastle that give me even more hope that this season can be uplifting for me and the fans after frustrating times.
"We've got a new manager, new staff, new players and a takeover in the boardroom. Any one of the those elements would cause excitement at a club and we've had a transformation from top to bottom. Crucially, everyone who has arrived appears to have big ambitions."