Michael Owen continues to be the subject of a tug of war between Newcastle and Liverpool, although the England striker continues to favour a return to Anfield.
Real Madrid’s directors are to meet on Tuesday to consider Liverpool’s bid for England striker Michael Owen.
The striker met Liverpool manager Rafael Benitez on Monday for talks, before holding a meeting with Newcastle.
The St James’ Park club have offered £17m for Owen although his former club are unwilling to pay more than the £8m they received when they sold Owen a year ago.
Real Madrid vice-president Emilio Butragueno said: “We have received two bids from England, one of which has been accepted already.”
He added: “The other will be discussed by the directors today (Tuesday).”
Liverpool could be in a position to offer more attractive terms to Madrid if they sell Djbril Cisse.
Real have warned Owen, however, that he will have to stay if Liverpool’s offer is not improved.
“If Owen doesn’t want to join a particular club after we have accepted a bid then he will stay and fight for Real,” said Butragueno.
“We can review the situation in January or at the end of the season if nothing happens this week.”
Owen was not even on the bench for Madrid first game of their season after falling behind Ronaldo, Raul, Julio Baptista and Robinho in the pecking order.
Yesterday he met Newcastle chairman Freddy Shepherd and his son, manager Graeme Souness, captain Alan Shearer and coach Dean Saunders.
Newcastle said in a statement on their website: “England striker Michael Owen held talks with Newcastle about a move to St James’ Park.
“Owen and his representatives met up with a delegation from United at a Northumberland hotel.
“Real Madrid accepted a club record offer from Newcastle last week, and it is now up to the player to decide where his future lies.”
Shearer told BBC Five Live he has spent “a fortune in phone calls to Madrid” trying to persuade his former England strike partner to move to Newcastle.
“We have three days left to try to convince him to come here. We’re still in there fighting for him,” he said.
“I know if he came here he would be loved. They love their goalscorers up here and he would be a hero.
“I know better than anyone what reception he would get here. I’ve had several phone conversations with him.
“But I don’t have to tell him what passionate supporters we are. In the end he’ll make his own mind up and will do what is best for himself.”