Former Crystal Palace owner Simon Jordan admits Eddie Howe has surprised him.
Howe has guided Newcastle United to Champions League qualification this season.
Asked if top four finishes would be the peak for Newcastle, Jordan told talkSPORT: "Oh no it's not the peak. I mean, whether there's a plateau before they go again. I mean, the Saudis don't do second, that's not the motivation of their aim.
"You cannot imagine that they aren't going to be a force. In fact, part of my thinking thinks that out of the pack that will unseat Man City, it might well be Newcastle. Not next year because I still think they've got a way to go, but I still think they're on their journey and they're well on their journey.
"They've laid really good foundations. Everything they've done, despite my vitriol and criticism initially, has been pretty much right from Eddie Howe coming in.
"I wasn't an admirer of his and made many observations that teams like his can't defend and that I felt he had abstained from the pressure of Celtic and I have to eat all those words because events have overtaken those observations. Everything about the football club at this moment in time has an irresistibility about it.
"Put aside the 0-0 draw last night that was just hundreds and thousands on top of the 99 ice cream. They're in the Champions League and they should go in there with zero respect for it, zero fear of it and zero worry about playing in European football.
"It's not a free hit. What it is, is a huge opportunity and I think they'll take it.
"I think they will inevitably be the side that challenges Manchester City because they have the economic resources to do so."