I've said plenty of times on here that I wouldn't bring Owen back. Partly because he's nowhere near the player who left us for Madrid, and partly because I'm still smarting at him running his contract down here and jumping ship at a time when we were in transition and needed our best players to see us through.
Then there's his reluctance to play hardball with Madrid and taking the easy way out to sign for Newcastle, when if he had the balls to wait until the January window that year, Madrid would have had no option but to drop their asking price to something we saw as acceptable. He put his England carreer first because the world cup was looming. His choice. I didn't agree with it at the time. In the end we probably got a lucky escape though, because he's played feck all football in the last few years.
All that said, if there ever was a time when it was right to bring Owen back, both economically and in football terms, it's now. Newcastle want rid and he's for sale at next to nothing in January, they just want him off the wage bill. He's still capable of scoring goals at this level, and with the way our team is set up he'd get plenty of chances.
Problems? Wages for a start, and of course injuries. He won't accept pay-as-you-play deals so forget about that. The question is what is he worth in wages for the amount of games you're likely to get out of him. He's on over 100k p/w at Newcastle. I think if he'd accept less than half that with goal/appearance bonuses on top it's be a good deal all round. Realistically though I can't see it happening. There will be someone willing to pay more than that, and of course it also depends on whether Benitez would even want him, which I also doubt.
On the actual football side of things though, it would be great to have someone like Owen available from the bench, or to start when Torres is injured/needs a rest. The addition of him in January could be a masterstroke if Benitez decides to do it imo.