Newcastle are a full member of the EPL the following is a statement from them, u der their own rules for investment Mike Ashley should not be one of the 20 owners.
"The principal objective of the Premier League is to stage the most competitive and compelling league with world-class players and, through the equitable distribution of broadcast and commercial revenues, to enable clubs to develop so that European competition is a realistic aim and, once there, they are playing at a level where they can compete effectively."