The Magpies spent more money than any other English club in the January transfer window, and they have already been rewarded for their ambition.
Newcastle moved out of the drop-zone by beating West Bromwich Albion last weekend, and Keown thinks that Steve McClaren’s side will continue to climb up the standings between now and the end of the season.
“I think they’ve had as good a transfer window as anybody with the likes of Jonjo Shelvey and Andros Townsend coming in,” he said.
“They looked better against West Brom and it could be a bit of a turning point. They are out of the bottom three, which is a real tonic at this time of year. They’ve got a tough game at Stamford Bridge on Saturday but with the games Chelsea have drawn, Newcastle can go there with at least some confidence.
“There are signs of a bit of swagger returning and it feels like this is more Steve McClaren’s team. When you sign players and see an instant response, it gives you a lift.
“Also the teams around them are struggling. Life is looking difficult for Sunderland and Norwich while Aston Villa are surely just playing for pride now. Leicester escaped from a similar situation last season but they are showing they are no ordinary team. You could argue they were in a false position last year given what they’ve gone on to achieve.
“So it’s still a work in progress at Newcastle but if they find some consistency I can see them getting out of trouble.”
Newcastle’s performances have been extremely disappointing so far this campaign, but they have started to show some signs of progression - especially in front of their own fans.
McClaren’s side are unbeaten at home in 2016, and if St. James’ Park continues to be a fortress they should be in a strong position to avoid the drop.
Newcastle do need to start collecting more points on their travels though, and their recent 3-0 defeat to Everton highlights how much improvement McClaren’s side need to do.
The Magpies’ next match comes against Chelsea at Stamford Bridge on Saturday.