Reds set to announce new deal for Owen

LIVERPOOL hope to announce Michael Owen’s new contract when they return from their three-match US trip.

The deal should be complete before the Reds' first game of the season a Champions League qualifier on August 11.

The draw for the third qualifying round takes place at the end of the week, where Liverpool could find themselves up against Benfica, Basle, CSKA Moscow, Red Star Belgrade, Banik Ostrava, Trabzonspor, FC Copenhagen and Hajduk Split, who are all in Liverpool's section of the draw.

But by the time of that game, Liverpool pray that over 14 months of negotiations will have ended with Owen signing a two-year extension to the year he has on his current contract.

Liverpool are also expected to sign Malaga defender Josemi for £2million. The deal is still being negotiated and it is hoped the 24-year-old will join his new team mates by the end of the week.