I think they will have a target of getting into the UEFA League or UCL. All that is not owned by the current Newcatle coach.
From now Newcastle's target is just moving from the degradation zone only. when they can do that, possible they can't recruit a new player and coach for the next session.
I think Newcastle can still sign a coach and some players in the upcoming transfer market but yes, targeting to finish the season in the top 5-10 is not that easy. Newcastle just need to stay out of the relegation zone and with new ownership at the moment then I think it will be easy at least Newcastle can stay in the EPL basically that's enough. It still takes time for Newcastle to succeed, even though they are now the richest team, but there are rules that are applied regarding financial fair play, which of course, quick changes cannot be made haphazardly.