MICHAEL OWEN has backed Newcastle United to go straight back into the Premiership - provided they keep their best players and appoint Alan Shearer.

Owen has been vilified on Tyneside after announcing his intention to turn his back on the club at the end of the reputed £110,000-a-week contract he signed in the summer of 2005.

His move to Manchester United, which was confirmed on Friday night, now offers him the chance to fight for medals and silverware, while the club he departed plan for life in the Championship.

But rather than become embroiled in a war of words with his former club, Owen insists Newcastle can reclaim Premier League status within a year.

For that to happen, though, the 29-year-old claims owner Mike Ashley, or his successor, will have to keep the majority of the Newcastle playing staff on rather than cashing in to ease the financial hit relegation brings.

“It’s obviously a difficult situation that Newcastle are in at the moment and it’s probably been brewing for a while unfortunately, but I’d like to think that whether the owner stays or a new owner comes in that they’d keep a lot of the better players,” said Owen.

“There’s no doubt that there’s a lot of quality in the squad. Some good players, good people there and obviously the fans deserve to be promoted straight back up.”

Owen might not have been able to score a goal under the management of Shearer, but the England striker feels there is only one man worth appointing at St James’ Park.

He said: “Even just in the few weeks that he took over everyone can see that there’s something there and he’ll be a success in management.

“He’ll be great for Newcastle.

He’s got a real feeling and passion for the club and that’s what they need at this time.”

There has been an £80m offer from a Malaysian group – rumoured to be headed by billionaire Ananda Krishnan – for Newcastle but sources close to Keith Harris suggest there is still another serious bidder likely to go nearer to the £100m asking price.

But what will reassure Newcastle fans is that all of the consortia looking to buy the club have gone through the due diligence process properly.

Unlike when Ashley took over two years ago, when he did not realise the true extent of the debts at the club, the new owners will be clear on what state Newcastle have been left in.

Harris, the investment bank chairman trying to sell the club, had hoped a sale would have been agreed last Thursday.

However, with the groups involved not satisfied with the level of the club’s overdraft facility, that stalled things, but Harris remains optimistic of a suitable solution will happen this week.