Maybe I'm a little late hearing this news. But will he splurge with unlimited funds for the club? Seems interesting to wait. If that's true then there will be a change in league dominance the following year. But for 7 games they are winless they are in the relegation zone. They should currently be struggling to move up and be in the middle of the table so that after the second half of the season they can be easier to rank better than at the beginning of the half season.
I don't think they will move so quickly to overhaul the whole team because it will definitely deal with FFP. They should be able to do it gradually without rushing and one of the most appropriate steps in my opinion is to bring in a new experienced coach. I'm quite curious which coach they will bring in to improve the quality of the team in the next few season, that's the most important thing so far.
Everything needs a process and of course changes must be made in order to target as the favorite team this year in the premier league. In general Newcastle are opening a new coach and it is clear as the team grows that they will not forget the coach who is expected to be the replacement for the old Newcastle coach.