It is hoped by the Parisian club's Qatari owners that the 34-year-old can be the final piece in their jigsaw as they aim to lift the Champions League trophy for the first time.
Messi has joined Neymar and Kylian Mbappe at PSG to form what looks to be the world's most formidable front three, however Owen claims that, despite the club having exceptionally talented individuals, they are weaker overall as a team compared to previous seasons.
"As much as we drool over them, this PSG team with those forwards, they're all phenomenal players in their own right," Owen told BT Sport.
"But three together makes it weaker for me and I don't really understand why they're one of the favourites for it (the Champions League). I think the English teams (Chelsea, Liverpool, Manchester City and Manchester United) are far, far superior."
Messi endured a Champions League debut to forget, as PSG failed to impress on Wednesday against a spirited Club Brugge outfit, who held on to claim a 1-1 draw. body check tags ::