Liverpool manager Rafael Benitez has confirmed Michael Owen will move to Real Madrid.
The deal is believed to involve Liverpool receiving just £8m for 24-year-old England international plus midfielder Antonio Nunez from Real.
“Michael will have a medical with Madrid before the deal is completed,” said Benitez.
“I was very happy with Michael and I wanted him to stay. The problem was he only had a year left on his contract.”
“Real Madrid started talking with his agent and in the end it was an impossible situation to control.
“The money from his sale will be used to balance the team.
“We still have good forwards here and a good team. We did our best to keep him but, as I say, in the end it was a difficult situation for us.”
Meanwhile, Jose Antonio Martin Perton, the agent of 25-year-old Nunez confirmed that a deal was imminent.
“Yes, it’s true, we are talking to Liverpool,” he said.
“It’s going really well and we hope to have the deal closed in a few hours.
“Even if Owen hadn’t happened we were pushing for a move. We have been talking with Benitez for quite a long time, for around a month.
“The inclusion in the deal for Michael Owen has only just come in now.”
“He is hard working, quick and could help cover the absence of (the injured Vladimir) Smicer on the right.
“We think it’s a great move to a very professional club. It’s very important that they wanted him.
“It will originally be a two-year contract with the option of a third depending on the will of the club and the player.”