The England midfielder want to join the Premiership giants in the January transfer window.
Hoeness told The Sun: “If ever we thought we had found a replacement for Owen, who cost less than we’d get for him, we might be prepared to think about it.
“We face Real Madrid in the Champions League so we’re not about to weaken our team.
“We’re not a bank, we’re a football club.
“Our top priority is to strengthen the team so what use to me is another £30 million in the bank?
“We want to do well in Europe and the Bundesliga and we need Hargreaves for that.”