Of course, the example of PSG showed that for success in football it is not enough to have rich owners and that it is also necessary to have a good development plan and strategy.
If you remember, when the new owners took over Newcastle 2 seasons ago, the club was on the brink of relegation. In just one year, they saved themselves from relegation and entered the Champions League, which is a great success.
This tells me that the new owners of Newcastle know what they are doing and that Newcastle could be a very serious competitor to Manchester City in the future. They have the finances to succeed, they seem to have a good plan and the patience, time and knowledge to implement it.
The time will show.
Yes, if Newcastle also being trained by a coach who has competence and good scouts to bring in quality players, then they can become City's competitors for the EPL title. However, every clubs still needs a process to get to the UCL final. without a coach who knows the UCL and can bring in the right players, Newcastle may find themselves in a tailspin that has already happened