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In fact, its worst nightmare might be about to come true.
Just over seven days ago, the Magpies held ambitious thoughts of Alexander Isak and Hugo Ekitike playing alongside each other next season.
A bid duly went in for the latter, only to be knocked back by Eintracht Frankfurt.
Since then, Liverpool has moved quickly to secure Ekitike in a deal that could end up being only slightly more than Newcastle bid in the first place.
The dream of Isak and Ekitike playing alongside each other is still possible, although only at Anfield now.
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Whatever the motivation was behind tabling that bid for Ekitike - whether Newcastle genuinely held ambitions of him playing with Isak, or if it was a ploy to ward Liverpool off their star striker - it now looks to have blown up in their faces.
According to the Daily Mail, Isak has told Newcastle he wants to explore a move elsewhere, and all the signs point to Liverpool still being interested.
It didn’t take a detective to work out that something was amiss with the Toon.
Newcastle failed with a bid for Hugo Ekitike just days before Liverpool snapped him up.
That sound you can hear is thousands of eyebrows being raised.
With Liverpool still well within its own PSR means, and the possibility of some serious cash being brought in from the sales of the likes of Luis Diaz, Darwin Nunez and Harvey Elliott, there is every possibility of Isak landing at Anfield, and the Reds have the added advantage of knowing he wants to leave now.
That bid for Ekitike then could not have backfired more spectacularly then for Newcastle.
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