The 38-year-old former West Ham United and Queens Park Rangers midfielder played for Newcastle from 1999 to 2007.
During his time at St. James’ Park, Dyer played in the Champions League and also competed for a top-four finish in the Premier League.
The former England international believes that Newcastle fans believes that they are a Champions League team.
"I think the fans think they're a Champions League team," Dyer told Sky Sports. "They were spoilt with Kevin Keegan and Sir Bobby Robson.
“They exceeded expectations. But even then they broke the transfer record to sign Alan Shearer they can't do that now.”
Newcastle are one of the biggest clubs in England and regularly get around 50,000 fans for their home matches at St. James’ Park.
The Magpies, though, are also-rans in the Premier League at the moment, and a top-six or a Champions League finish is a distant dream.
The team that manager Rafael Benitez has assembled is good enough to challenge for a top-10 finish, but nothing more.
However, things could change in the coming years. Newcastle owner Mike Ashley has put the club for sale, and maybe the new owner or owners could bring the glory days back to St. James’ Park.
Have something to tell us about this article?