Liverpool striker Michael Owen is considering a move to Real Madrid, according to British newspaper reports on Tuesday.

Real are willing to pay 10 million pounds ($18.41 million) in cash for Owen while sending 15 million pounds-rated Fernando Morientes or Real Mallorca's Samuel Eto'o to Liverpool in a package deal worth 25 million pounds, the reports said.

The Madrid club own a 7 million pound stake in Eto'o and would have to pay Mallorca 8 million pounds to conclude the package deal, the newspapers said.

England international Owen's contract at Liverpool runs out at the end of this coming season, when he will be able to leave the club on a free transfer.

Owen told reporters last week he could agree a new contract with the club before the English premier league season starts on August 14.

The 24-year-old striker scored 19 goals last season for Liverpool and is in their squad for the Champions League third qualifying round, first leg tie with Graz AK in Austria later on Tuesday.