They have a lot over hauling to do in their squad. They have a big squad as it is and it they want to sign new players then they have to sell to create space. Now they have the money, so they have to have a plan, just like Man City did when the Arabs took over. Having money doesn't guarantee success in this business. There are a lot of players in that squad that are not champions league material and they all have to go.
On the other hand I am quite happy with how Howe handled the transfer. Until now he is only looking for the players he needs instead of doing it quickly and instantly by looking for players who have star labels.
But with the current conditions I have no doubt that there will be several names like that for Newcastle which is quite surprising with the current champions League and with the conditions they have big money so I would not be too surprised if there were several names labeled stars for Newcastle next season.