If this goes ahead I can see Newcastle as number one contenders, not only domestically, but also in European and Intercontinental competition!
Obviously they'd need a sharp and tactically astute manager but Bobby the Brain has got that covered, maybe with help from Jerry Lawlor in the king of the Geordies role.
From there though it takes care of itself to some extent. Koko the Birdman goes in nets with in front of him Dwayne Johnson as the defensive rock (maybe partner him with Giant Gonzalez for a bit of height on corners/south american panache). Repo Man as the midfield ball winner, ably assisted by Razor Ramon, and beside them Ted Dibiase as the obligatory million pound/dollar mercenary. If the team needs some width maybe you could pick Yokozuna (he's the widest person I've ever seen!), and then creative playmaker duties can fall upon the Cat Burglar, he'll unpick the lock and tiptoe through any defence. Up front is a doodle, sell Pape Cisse and replace him with Papa Shango, then splash a load of cash and partner him with RVD. Stick Diesel on the bench if you need an engine for midfield; The Mountie for man marking duties; Skinner to take on tiring full backs and Hulk as the carbon copy of his Brazilian name sake.
Easy Peasy - tile goes back to St Smackdown Park.