Emirates club to offer Old Trafford veteran chance of more football.
Arsenal are contemplating a £1million bid for Manchester United striker Michael Owen in January to bolster their attacking options.
The 31-year-old is on a one-year rolling contract at Old Trafford and has been left frustrated by a lack of first-team opportunities.
United boss Sir Alex Ferguson admits he wants to give the England international more playing time but has Wayne Rooney, Javier Hernandez, Danny Welbeck and Dimitar Berbatov to choose from.
Gunners manager Arsene Wenger would offer Owen an 18-month deal and the chance of more first-team action to help him get back into the England squad.
The Frenchman is worried about the possibility of captain Robin van Persie getting injured and not having suitable cover for the Dutchman.
Marouane Chamakh has not impressed in the 15 months he has been in north London, while Park Chu-Young was only bought last summer and may need time to adjust.
Wenger is willing to take a gamble on Owen’s fitness, who has struggled with hamstring injuries over the years, because he is available cheap and can offer vital experience.