Real Madrid are ready to open the door for England striker Michael Owen to return to the Premiership.
Manchester United are set to head the race with an £11m bid for Owen, according to reports.
Owen has been pushed down the pecking order at the Spanish giants following the arrival of Brazilians Robinho and Julio Baptista.
Owen's former club Liverpool, Arsenal and Newcastle have also been linked with the 25-year-old forward.
A senior source at Real told the Sunday Times they would not stand in Owen's way if they received a bid for him.
The source said: "Michael is popular with the fans and he is popular within the club.
"But if he comes to us and says he believes the best thing for him is to leave, we will have to respect that.
"He has been a great servant to us, we will treat him with the utmost decency and respect.
"And in the event that he decides to go, while obviously looking out for our own interests, we will be sure to look out for his too."
Despite scoring 16 goals in his first season at Real following his move from Liverpool, Owen spent many games on the bench.
And with the World Cup less than a year away, he could decide to move on rather than face the prospect of fighting for a place with Raul, Ronaldo, Robinho and Baptista.
A transfer to Manchester United would bring Owen together with his England strike partner Wayne Rooney, although it would prove unpopular with Liverpool fans.
Ferguson might have to sell players to finance the move, with midfielders Phil Neville and Kleberson possible candidates along with striker Louis Saha.
Arsenal could also be tempted to move for him, having seen Baptista taken from under their noses by Real after coming close to sealing a £14m move.
The £7m arrival of Peter Crouch at Liverpool makes it unlikely manager Rafael Benitez would consider taking Owen back to Merseyside. Newcastle are in the market for a striker, but they cannot offer Owen Champions League football.
