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Michael Owen compensation agreed upon by Newcastle and England

According to the Evening Chronicle, Newcastle has agreed upon a compensation for the Michael Owen injury.

Michael Owen compensation agreed upon by Newcastle and England As published by the Evening Chronicle, Newcastle will receive £10 million for Michael Owen's injury, which kept him on the sideline for more than 10 months. The 27-year old striker suffered knee ligament damage while on England duty in the game against Sweden from the World Cup, last year. Following the knee injury, Owen was sidelined until May 1st.

 According to the Evening Chronicle, Newcastle sources told them "We have finally reached a comprise with FIFA and the FA regarding Michael Owen, and when you take into account the fact that his wages have been paid in full for two years and the compensation we have received, it'll amount to around £10million."

 Freddy Shepherd, the chairman of Newcastle, has been talking to FIFA and FA for months, trying to get a reasonable settlement for Owen's lost of play-time, as  the Football Association's insurance policy would not fully reimburse Newcastle United for Owen's salary of over £100,000 a week, or the costs of employing another player to cover for him.

 Michael Owen has been with Newcastle since August of 2005, when he signed a four-year contract with Toon for £17 million. In May this year a report in The Times newspaper suggested Owen could be available for less than £10 million, which was vigorously denied by Freddy Shepherd. The existence of the release clause in Owen's contract was later confirmed and the club would be powerless to prevent Michael Owen from leaving the Magpies.

Published on 06/25/2007

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