Steve Bruce will be in the dugout on Sunday when Newcastle host Tottenham at St. James’ Park, a game which is being looked at as the start of a new era.
Many expected Bruce to be sacked but the new owners are still looking at who to bring in and stressed the importance of patience when it comes to rebuilding Newcastle over the course of the next few years.
Newcastle’s situation is being compared to when Roman Abramovich took charge of Chelsea in 2003 and when Manchester City got new rich owners from the Middle East in 2008.
But Cascarino feels there are no comparisons as Newcastle are in a far weaker situation than the other two clubs when their respective takeovers happened.
He pointed out Manchester City were a mid-table side when they got new owners and Chelsea had a solid squad when Abramovich got hold of the club.
The former striker stressed he cannot see more than a handful of players surviving the eventual cull that will happen at Newcastle in the next few transfer windows.
Cascarino said on talkSPORT: “No [there are no similarities].
“They are a million miles away from where Chelsea and Manchester City were.
“First of all, Newcastle haven’t won a game and then when you consider how many players will survive from the squad into the new era where they are going to attract and try and get better players.
“Certainly [Allan] Saint-Maximin, probably Callum Wilson, maybe [Miguel] Almiron and then I am scratching my head.
“If you go back to City in 2008, they finished ninth in the season they had the takeover.
“When you look at some of the players they had, they were probably a mid-table club.
“People like Stephen Ireland and Joe Hart were at the club so they had some decent players.
“It is still no comparison to Chelsea.
“When Roman took over, Chelsea were from 1996 onwards were winning things and had a really good squad.
“[Gianfranco] Zola, John Terry, Joe Cole, Marcel Desailly were at the football club and many others.
“So, there is no comparison there.
“The rebuilding job at Newcastle will be far more difficult than what Man City’s was and certainly, Chelsea’s.”
Newcastle are expected to spend in the winter transfer window and it remains to be seen who they look to bring in.
