At the moment it is all speculation by the media linking him to a move to Manchester United, but a fully-fit Michael Owen would be a target for all the top clubs. The problem is, has he left his injury-plagued history behind him? Will any club be willing to invest the money and take the chance that they can rely on him to be able to play the majority of games in a season?

It is a huge risk. Even if he plays and stays injury free from now until the end of the season, because of his history, would many people be surprised if he broke down again at the start of next season? If he is bought by one of the top four, that club will be taking a huge gamble, but if he has overcome his injuries and can stay fit then the club that signs him will have one of the most prolific and proven strikers in the history of the Premiership.

It's not hard to believe the media stories that Sir Alex Ferguson is interested in the former Liverpool player, and an in-form, injury-free Owen would once again become one of the top strikers in the league. Chelsea are always after players and sometimes it's about not letting the competition sign them. Owen paired with Didier Drogba would be an attacking force most teams would fear.

Arsenal are the team most in need of a proven goal getter, so I suspect they will be more interested in his medical reports than anyone. They need someone apart from Thierry Henry to spearhead their attack; everything else at the club is good but they just cannot put the ball in the net. The pressure is on Arsene Wenger for results.

The last of the four is Liverpool, by far the most complicated transfer destination for Owen. Liverpool also need a prolific striker; as much as I rate Dirk Kuyt and as hard-working as he is, he seems to better suited to setting up play and providing chances for other players than an all-out goal getter. A 20-plus-a-season Premiership scorer is what we need. Owen would fit that bill perfectly but there is a little bit of baggage to this grand reunion.

Owen's departure from Anfield left a bitter taste in the mouths of many Liverpool fans. His reluctance to sign a new contract meant Liverpool were held to ransom and forced to sell him for only £8m to Real Madrid with only months left on his contract. It was not all his fault; Liverpool should have sealed the deal earlier in the year or sold him in time for Rafa Benitez to replace him, but still we were left starting the season one striker short .

It seemed like justice when we won the Champions League without him while he spent most of the season on the bench at the Bernabeu. He eventually forced his way into the team and actually had the highest goals-per-minutes-played ratio in La Liga. He also came through the season nearly injury free from playing fewer games, so maybe Benitez`s rotation system would help with his injury problems.

All this would be a tough on Newcastle United, who paid £16m for a man who has only played 11 games so far for them. But Owen will want to play Champions League football and there very little indication that he will get it on Tyneside.

Owen has never endeared himself to the Anfield crowd in the way that Robbie Fowler, Steven Gerrard or Jamie Carragher have done, but he has produced some great displays and created wonderful memories; the FA Cup victory over Arsenal in 2001 will always be the Michael Owen final.

Liverpool now have other options - Samuel Eto`o and David Villa are names that keep cropping up. They are the best that Europe have to offer right now, but it normally takes a season or two for these players to adjust to the Premiership. With Owen, this is not a problem - he was educated in our league and knows what it takes to succeed.

Owen`s first choice would be a move back to Anfield, but sadly for him I think one of the other three teams are going to be more interested in him. Liverpool now have the resources they need to at last make a proper challenge for the title and after so many false dawns it's just too risky bringing the little striker back home.

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