A big budget or not Newcastle should have no problem in building their squad. They should not rush it. Let it follow due process. hey can just add three or four players to their squad and sell some players that are surplus to requirement. They should take the process slow or they might miss it and see themselves spending unnecessary just to stay relevant.
They should just try to get quality squad depth and get players that can make them in the top four. They can also play to win other trophies like the caraboa cup and FA cup but the league and champions league is a little beyond them at this point.
Even right now, Newcastle United is having no problem in finances but still their strategy is amazing which is giving them good success because they announce few months back they will not rush for the big stars and having quick success they will go with their own plan and slowly build this club as one of the best in UEFA which is surely going as their plane right now they have few good players and coach is also doing impressive work which is helping them for having good results now as they are heading for the Champions League hopefully they will go with few good players which helps them for having good start in Champions League after long time.
Currently, their main focus is Champions League and Premier League instead of small trophies which is also good hopefully in coming season we will have better result like in this season no one was expecting for the fourth, but they have done so now who knows they will go improved in next season.