Former Newcastle United chairman Freddy Shepherd regrets his deal for Michael Owen.
Newcastle found themselves in a straight shootout with Liverpool for the then Real Madrid man's services before he agreed a £16m deal to sign for United.
Shepherd told the Evening Chronicle: "Michael was a great player, but financially it didn't turn out a good deal.
"I think at the end of the day when 20,000 people turn up just to see somebody sign and welcome him you know at the time it's a good deal.
"I didn't hear anybody saying, 'Don't buy him then'."
He added: "Hindsight is a great tool. Certainly with Owen it didn't work out as it should have. Injuries are injuries and this can happens.
"Would I do it again? The answer is no. But, as I say, that's with hindsight."
