Manchester United resisted the temptation to splash out on a new forward following Ronaldo's transfer to Real Madrid and instead signed Owen on a free transfer. As United learn to live without the world record signing, he admitted that he approved of the latest man to don the famous red number seven shirt.
"Manchester United did well to give him the number seven," he said.
"He is a great player, an English player. He has everything to win there. He is at a fantastic club."
Ronaldo's transfer to the Bernabeu ended two years of intense speculation that blighted his final year in Manchester.
But the 24-year-old said that his decision to leave Old Trafford was not one that he took lightly.
"I arrived at Manchester when I was 18 years old and I'd been there six years and I think it's a lot of time," he said.
"I won many things there, collective and individual trophies and awards, and I met very good people there, good friends - so it's not easy you know.
"Life is a challenge and I'm a man of challenges. I think it's a good move," he added.
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