Deemed by many to be ‘too good to go down’, the Geordies were pipped to the post for 17th place – and safety – by Phil Brown’s Hull City
However, Toon dreams of bouncing straight back could be shattered as the club continues its slide into turmoil.
As recently as this month the future of Mike Ashley as owner of the club has been thrown into doubt, with a number of interested parties lining up the necessary £100m needed to buy the club.
The trouble at board level has left a question mark by the managers role, with Shearer likely to walk away if Ashley retains the reins.
On the pitch, with Newcastle having more than a dozen plays earning huge wages (rumoured to be in excess of £2.5m a year) there will have to be a clearout to trim the wage bill.
And the likes of Obafemi Martins, Jonas Gutierrez, Michael Owen, Mark Viduka, Alan Smith and Nicky Butt will have to be sold the in order to make the savings.
The Geordies will have to recruit a completely new team, and bring through some of its youth players, to form a suitable Championship squad.
To play Premier League football by 2010/11, the club will have to settle its ownership, hire a peramanent manager and completely revamp its entire playing squad.
Maybe the fans, for the first time since the 1950s, the fans have to seriously lower their expectations.