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 on Monday 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.
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