Newcastle owner Mike Ashley has ambitions to make the Magpies European contenders. Managing director Derek Llambias confirmed Ashley's intentions after the Magpies reported a loss after player trading of £17.1million for the year ended June 30, 2010.
Llambias said: "Mike knows where we want to be and where we should be in four or five years' time.
"Our vision for the club is to finish 10th or above every year, year after year.
"That is our target - we want to be challenging for Europe every season."
The figures revealed that Ashley had ploughed a further £42million into the club in interest-free loans during the reporting period to take the total to £139.8million.
Llambias claims that the club would have gone under without his continued investment.
He said: "Mike Ashley's money has kept this club buoyant. Quite honestly, Newcastle United would not be here without him, it is as simple as that.
"He has never taken a penny out of the football club, but he knows what he has to put in every year and he is keen to grow it."
But first, boss Alan Pardew and his current players have to finish the job of securing the club's Barclays Premier League status, starting with the visit of struggling Wolves to St James' Park on Saturday.
Llambias said: "We are starting to get the stability we need into the football club both financially and within the squad.
"That stability is one of our most important goals. That would give us the security that the club and the playing side needs."
