The Magpies may not be able to achieve their goal of becoming a top six or top seven club this term.
However, they have immense financial backing thanks to their Saudi Arabia links, which will bring in the players they need to improve in the long-term.
"Money always wins," he told the Central Club podcast. "It always wins and I believe this will if this is what it's going to be.
"They will get to where they need it to. It won't be as quick as ours because of Financial Fair Play. That really does come in and it will sustain. It will have to be a longer period than what Chelsea were able to do, what Man City in the early stages were able to do.
"We played them pre-season and I saw a difference straight away. I saw more support staff. Dan Ashworth, who I really like, is the director of football there. He went from Brighton. I spoke to him for a while and it's just a club that's going to go well. I'm actually glad someone did that for a club like Newcastle."