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 Tyneside in January by committing himself to the club until the end of his current contract.

In a statement released on his behalf this evening, Owen also confirmed he had indicated 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 today 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 statement comes a day after Kinnear suggested his agent would hold talks with managing director Derek Llambias this week over the new deal he was offered seven days ago.

Speaking after yesterday's 2-1 Premier League win over Tottenham, in which the striker played, Kinnear said: "We have to sit down with Michael and the people who represent him and try to strike a deal.

"I don't think there is anything else we can do, we have both really got to agree on a number. As far as I have been informed, that's supposed to be in the next three or four days."

In a statement released on his behalf this evening, Owen also confirmed he had indicated 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 today 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 statement comes a day after Kinnear suggested his agent would hold talks with managing director Derek Llambias this week over the new deal he was offered seven days ago.

Speaking after yesterday's 2-1 Premier League win over Tottenham, in which the striker played, Kinnear said: "We have to sit down with Michael and the people who represent him and try to strike a deal.

"I don't think there is anything else we can do, we have both really got to agree on a number. As far as I have been informed, that's supposed to be in the next three or four days."