Clubs "can't just buy success" and Newcastle fans are living in "dreamland" if they think they will sign top players like Kylian Mbappe, says former defender Jonathan Woodgate.
Newcastle have been linked with a host of players since being taken over in a £305m Saudi Arabian-backed deal.
Paris St-Germain forward Mbappe, Tottenham's Harry Kane and Barcelona's Philippe Coutinho have been mentioned.
Woodgate said it is already "difficult" to get players to Newcastle.
- Listen to The Sports Desk podcast: Can Newcastle build a global superclub?
- How Newcastle can follow Man City's example
Last week, Newcastle became one of the richest clubs in the world after being sold by Mike Ashley, with comparisons being drawn with Chelsea and Manchester City who went on to achieve success after being taken over by wealthy owners.
Since the deal, the gossip columns have been filled with star names the club can now afford to sign, including France World Cup winner Mbappe, whose contract ends next summer and is expected to leave PSG.
Liverpool manager Jurgen Klopp has warned it will take time, saying: "In five, six, seven years' time, if the owners are patient enough, Newcastle is a new superpower and they will have enough money to buy the whole league."
And Woodgate, who had a season at the club before joining Real Madrid in 2004, said on BBC Radio 5 Live's Friday Football Social: "If you look at it and what they (the owners) have to do, they have to build the infrastructure from the bottom over the years.
"If any player has got anything about him, he goes to Real Madrid, Barcelona, Manchester United. No disrespect to Newcastle, he ain't going up the road to them.
"It is hard enough trying to get players up to the North East, I know playing for Newcastle, Middlesbrough, Leeds, it is difficult to get players up there.
"All the top players have got money, they want to win trophies, they want to play in European finals, they want to get to World Cups, they don't want to come to Newcastle. No disrespect but I am right.
"Alan Shearer was a world-class player and signed for Newcastle because he is from Newcastle, he wanted to fulfil a dream. There are not many more world-class players in their pomp playing for that club.
"For the Newcastle fans to think they are going to get Kylian Mbappe and all these top players, it is dreamland, you have to build it. It isn't easy, you can't just buy success. It doesn't work like that in this league."
'It will take 10-12 years'
There has also been intense speculation surrounding the future of manager Steve Bruce, with reports linking them with former Borussia Dortmund manager Lucien Favre, Rangers' Steven Gerrard and former Chelsea boss Frank Lampard as potential replacements.
On Friday, Bruce said there had been "no discussions" on his future, while new part-owner Amanda Staveley confirmed he will remain in charge for the Premier League game against Tottenham on Sunday, his 1,000th game as a manager.
Woodgate, who won eight England caps, added: "The way Steve Bruce has been treated has been disgusting. This is a manager with his 1,000th game, that is a sign of a successful manager, showing the longevity in the game.
"The owners will do their due diligence and this a massive moment for the football club. English, foreign, they will be looking at all the top managers. They have money to spend and every manager wants it.
"They have to get this decision right, it will take 10-12 years, they have to win an FA Cup, League Cup before the Premier League and Champions League."
- Our coverage of Newcastle United is bigger and better than ever before - here's everything you need to know to make sure you never miss a moment
- Everything Newcastle - go straight to all the best content