In what would be an extraordinary move should it materialise, speculation today is linking former Liverpool hitman Michael Owen with a move to Old Trafford.

Now officially a free agent after his contract on Tyneside expired yesterday, the 29-year old ace is wanted by a number of Premier League clubs. Leading the chase to land the goal machine are thought to be Everton - the team Owen supported as a boy - and Hull, who are set to table a lucrative package in a bid to lure him to the KC Stadium.

But now, it seems Manchester United are also in the hunt for the former Galactico. The recent news that United's top target Karim Benzema is set to join Real Madrid, after snubbing a deal with Alex Ferguson's men, has added to the Red Devil's transfer woes. It follows the departure's of both Cristiano Ronaldo and Carlos Tevez, leaving Ferguson seemingly in a state of panic.

His desperation is believed to have prompted a move for the England international star. A flurry of bets today have seen the odds on Owen strutting his stuff in a United shirt next season tumble from 20/1 to a very skinny 7/4. Sources are suggesting Ferguson is prepared to take a gamble on the injury ravaged frontman, who would not command a transfer fee. With Madrid intent on signing up any top name available, The Red Devils are finding options few and far between.

"With Real Madrid hoovering up several high profile targets, United are running out of options to fill the void left by the departure of Ronaldo and Tevez and Owen is a cheap option," Mike Triffitt of SkyBet told bettingzone.co.uk.

But it wouldn't be the first time Ferguson has taken a risk with an ageing striker. His moves for the likes of Teddy Sheringham and Henrik Larrson - who both arrived at the club into their 30's were definite successes and Owen, who is keen to rekindle his England career, would surely jump at the chance at playing for one of the world's biggest clubs.

"A move to United should suit Owen, who wants to get back into the England squad and will feel he has a better chance with a higher profile club," added Triiffid.