Mark Owen looks happier than ever after Take That announcement... while Wembley and O2 battle to host £50m tour

Mark Owen stepped out today looking happier than ever following the announcement that Robbie Williams would be rejoining former band Take That.

The 38-year-old singer, who wore a summery blue striped cardigan with jeans and boots, looked excited as he waved to fans in Clapham, south London.

Last night, Robbie confirmed he would be making Take That a quintet once again as he rejoins the group for a £50million album and tour next summer.

Happy and excited: Mark Owen looked thrilled as he stepped out in Clapham today following the announcement that Robbie Williams would be rejoining Take That

Summery: Mark looked seasonal in his stripey cardigan and light blue jeans

And it seems excitement about the reunion is spreading, with both Wembley Stadium and the O2 Arena locked in a £15million battle to host the upcoming tour.

While the O2 is the venue du jour, it can only hold 23,000 people, while Wembley can pack in 100,000 fans.

Promoters SJM are said to be in talks with both venues about which should host the 54-date tour - expected to sell out in minutes when tickets go on sale later this year.

Back for good: Robbie (far right) with (left to right) Jason Orange, Howard Donald, Mark and Gary Barlow as they prepare for their new album and tour

Robbie's return to the band is thought to initially be for a year, with the possibility of extending that following the tour.

However, the reunion of Robbie with Mark, Gary Barlow, Jason Orange and Howard Donald is expected to send Take That's popularity skyrocketing.

And William Hill bookmakers have already opening up betting on whether Take That will get the Christmas number one this year, with odds of 3/1.

William Hill spokesperson Joe Crilly said: 'Having Robbie back is surely only good news for the band and their fans and the odds definitely suggest that his return will have a positive impact on record sales.'

Quartet: Take That as they were during their 2006 reunion tour

Following the announcement last night, Robbie said: 'I get embarrassingly

excited when the five of us are in a room. It feels like coming home.'

And Mark, who was Robbie's best friend in the band, added: 'Getting the five of us to be in a room together, although always a dream, never actually seemed like becoming a reality.

'Now the reality of the five of us making a record together feels like a dream.'

Read more: Daily Mail