Owen was available as a free agent after having been released by Manchester United at the end of last season.
The former Real Madrid star was linked with a return to Liverpool, but ended up signing a one-year contract with Stoke.
"Liverpool didnít consider Michael Owen," Rodgers said. "If we didnít get the targets that we hoped to get in the transfer window, I was going to go with what I had.
"Thereís no point putting money into the academy and then not giving young players a chance. Look at the impact Raheem Sterling has made as a 17-year-old. All Iíve given him is an opportunity and heís gone on and taken it.
"Weíve got a number of other young talents and hopefully over the coming months we can see them and see how they flourish."