The England international is out of contract at Newcastle United in the summer, and if mega-rich City decide to make a move for him, Ashley admits there is little he can do.
"We'd love Michael Owen to stay," the United owner told The Sun. "Newcastle United want him to stay but we have to look at what we can spend when other clubs like Manchester City do not.
"The guy at Manchester City is about 1,000 times wealthier than me. I haven't got his kind of money. If Manchester City want Owen, there's nothing I can do about it."
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