After earning a fearsome reputation as one of Europe's elite strikers, Owen was sold by his boyhood club in 2004 to Los Blancos for £8m, although spent only one season in Spain before returning to the Premier League, in the colours of Newcastle.
Speaking after Liverpool's 1-0 against Brighton on BT Sport however, Owen revealed that it was always his intention to return to Anfield. However, the north east side outbid his former club for his services, which made Real Madrid's decision for them.
He said: "In my mind, I thought 'go to Madrid for two years' and then come back. I even shook the chairman and chief executive's hand and said 'make sure you get me back'. It would have been my dream [to come back]. It didn't happen and I don't blame anyone.
"I met Rafa Benitez after a year and we had sorted everything out to come back. But I had gone for £8m and Liverpool wanted to buy me back for £10m, then Newcastle came in and offered £16m."
Owen scored 14 La Liga goals during his one season in Spain, although it was during his time in the Premier League that he's most remembered for, scoring 150 goals for the likes of Liverpool, Newcastle, Manchester United and Stoke City.
While Owen's return to Liverpool never materialised, the boyhood Red revealed there were even plans in place for him to leave Newcastle and re-sign with Liverpool.
He continued: "At Newcastle, I had it in my contract that I could go back for a set amount. I agreed to go to Newcastle on the basis that I could still go back to Liverpool."