Owen to delay Newcastle contract decision

(CNN) -- England striker Michael Owen has told Newcastle he will not make a decision on his future until the end of the season.

However, the 29-year-old has ended speculation that he could leave in January by committing himself to the Premier League club until the end of his current contract.

In a statement released on his behalf, Owen also confirmed he is willing to take a pay cut if he decides his future lies with the Magpies.

Owen said: "Following speculation about my future at Newcastle United, I have decided to make it clear that I am committed to the club until at least the end of this season, and I have informed them I do not want to make a decision about my future until that time.

"I hope this will be seen as a positive step and not seen as being disloyal in any way. I am happy here and enjoy the challenge. It is simply a matter of seriously thinking about my future as I was 29 last week and my next career decision is a crucial one.

"My decision is not about money. I told the club some months ago that I would accept a reduction in my wages. I have no intention of leaving Newcastle United during the January transfer window and want to assure the fans that under Joe Kinnear's passionate management, I am committed with the rest of the players to ensure that the club ends the season on a high."

Owen's future has been a major topic of debate for the last year with former manager Kevin Keegan urging the board to tie him to a new contract within weeks of his return to St James' Park in January.

However, in the wake of Owen's announcement, the club now face the task of persuading him to accept the three-year contract offer on the table or lose their £17million signing on a Bosman free transfer during the summer.

Manchester City and Everton have been linked with moves for the former Liverpool and Real Madrid forward next month, although his goals could yet play a significant role in Newcastle's ongoing fight for top-flight survival.

Owen has found the back of the net nine times in 16 appearances so far this season to take his tally to 29 in 63 outings in his injury-hit three-and-a-half years on Tyneside to date.

However, he has been unable to force his way into England coach Fabio Capello's plans, and Newcastle's difficulties on and off the field have not aided his cause.