Venables believes United boss Sir Alex Ferguson has conducted a brilliant bit of business by signing the former Liverpool, Newcastle United and Real Madrid star.
He told The Daily Star: “It is a logical step forward for Alex Ferguson, in my opinion.”
“He’s lost the world’s best player and he’s also lost Carlos Tevez. If Owen doesn’t get injured, he will score.
“He may have lost a yard of pace but his anticipation is as good as ever, if not better, and if he gets loads of chances, he will get a lot of goals.
“You can spend £15m or £20m on a striker and not get that many goals.”
