The Denmark international insists anyone joining the Magpies must earn their place.
Lovenkrands said: "I honestly don't care if another striker comes in. I would welcome it really because I think we need new players. But then they have to come in and prove themselves.
"They have to come in and earn their spot, whereas the lads already here proved at the end of the season that we're here and we can do it for Newcastle and in front of these crowds.
"Fernando Torres cost £50million but that price-tag didn't automatically make him a good buy."