I think people are far too negative about this. In order to sell, there has to be a buyer. Who is going to do all this buying? Let's think about this for a second:
1. Man. City probably is pretty happy with their squad right now - on the whole - and they are skirting FFP rules, so I can't see them splashing silly money for any of our players.
2. Arsenal are total tightwads (sorry, just the way it is), so they aren't going to pony up.
3. Tottenham don't seem to have the vast pools of cash lying around, and have of late, been pretty cautious about the transfer market.
4. Liverpool, from what I understand, are now in a situation where they are looking for free/cheap talent. (And probably will never do business with us again for the foreseeable future).
5. Chelsea is skirting FFP rules too. So I don't see some sort of massive raid from them either.
Basically, that leaves Man U. Not sure who they'd want (I think maybe Krul). But it's not like there's a massive amount of teams out there ready to launch an asset stripping raid on Newcastle. Also, we've said that we won't sell players who don't want to go, and I have no reason to believe otherwise. Sure, if there's silly money involved it's going to happen, but where is all the silly money going to come from?
Also, I think if we add sensibly early in the window, players will want to stay since it's a commitment to improve and they will believe in the project. We were a ****'s hair away from the champions league this year, and with a bit more depth I think we can get there.
Naturally there will be some transfers, because there is in ever summer window. But the club's built a ****ing excellent team that has exceeded most of our wildest dreams a few years ago. At least wait until the worst happens before getting miserable, and otherwise have a little faith that we are finally on the right track.