Southampton will take on Premier League rivals Palace at St. Mary’s Stadium in the third round of the FA Cup on Saturday afternoon.
Owen, who played for Manchester United and Liverpool among other clubs, believes that the game will end in a 1-1 draw.
“All is not well at Southampton it seems, and Ronald Koeman did not look a happy man after his side’s 1-0 defeat at Norwich last weekend. That was their fourth defeat in their last five matches, and they are in danger of being dragged into a relegation fight,” the former England international has written on Colossusbets.com.
“That may sound a bizarre thing to say about a team that beat Arsenal 4-0 on Boxing Day but it is clear that the Saints are vulnerable at the moment.
"Opponents Crystal Palace have a lot of injury problems though, and they were put in their place 3-0 by Chelsea on Sunday. But, against that, they are seventh in the League and have an impressive away record. I go 1-1 again.”
Southampton will head into the game against Palace on the back of a 1-0 defeat to Norwich City away from home at Carrow Road in the Premier League.
The Saints are struggling at the moment and are in danger of getting sucked into the relegation battle.
Ronald Koeman’s side are 13th in the Premier League table at the moment with just 24 points from 20 matches, just seven points above the relegation zone.
Meanwhile, Palace are having a great season and are in with a shout of finishing in the European places.
The London outfit are seventh in the league table at the moment with 31 points from 20 games, just five points behind fourth-placed Tottenham Hotspur.
The London outfit will be determined to win against Southampton and progress to the fourth round of the FA Cup.