If Pardew wants to spend, he must sell first.
And there could be a few out-going deals for Pardew to ponder (not that he has any say in the matter). Mike Ashley decides who GOES and who comes IN.
Cheik Tiote wants to leave, and I think many supporters are resigned to the fact he will be on his way.
There has been a problem between manager and player all season, with Tiote choosing to play for his country at a time he was "injured" an unavailable for Newcastle.
Papiss Cisse is another who has looked for a way out, although a decent run in the team could change his mind.
Arsenal want Moussa Sissoko, and £15m would sign the deal.
But Newcastle's recent winning run (that came to and end on Saturday) has transformed lots of things at St James’ Park, with the club’s January transfer policy perhaps at the top of the list.
A month ago, with the Magpies struggling in the relegation zone, there was every chance of Mike Ashley spending ... AND changing the manager.
A new manager would want funds; Pardew does what he is told; so there is more chance now of Ashley keeping his money in his pocket.
Pardew has talked of needing another cental defender, but Ashley can point to Fabricio Coloccini, Steven Taylor, Mike Williamson and Paul Dummett and say the heart of the back four is good enough now.
Things are slightly less cut and dried at the other end of the field.
Papiss Cisse is due to represent Senegal in the Africa Cup of Nations at the turn of the year, and Ayoze Perez lacks experience at the highest level, and the snow will be a culture shock to a kid who has spent his life in Tenerife.
No matter what Pardew says, Adam Armstrong is NOT the answer.
A kid has to make the jump from the youth team to the Premier League, and that jump is 50 million miles too far.
It is ridiculous to even suggest it ... but we all know it is true ... getting out of the relegation zone has just cost Pardew a money bonanza in January.
Sadly, that is how Ashley thinks.