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.