Newcastle co-owner Amanda Staveley says buying the club was a "risk" because "there is always a chance of relegation".
Staveley and fellow owners the Reuben brothers and the Saudi Arabian Public Investment Fund took over five weeks ago from former owner Mike Ashley.
But the club are 19th in the Premier League, five points from safety.
Staveley said it would have been a "safer investment bet" to buy after Christmas.
But she told NUFC TV that after appointing Eddie Howe as head coach, "we had to have someone leading the club who is not frightened of relegation.