Club owner Mike Ashley tried and failed to sell the club which had a collection of underperforming players with plummeting values, and the talk was of Newcastle falling even further than the Championship.

But, on Monday, they will arrive at Old Trafford as a top-flight force once more, to open their season in exactly the same way as they did two years ago.

"I didn't expect Newcastle to come back so quickly," said Ferguson.

"You could sense there was going to be an upheaval in terms of players leaving and they did sell quite a few.

"It is not easy to go down and come back at the first go. Very few teams have done that over the years.

"But you have to give Chris Hughton credit. He wasn't everyone's choice as manager but he dealt with all the financial constraints Newcastle had last season and still got all his players playing for him.

"And with their fanatical support, they had a big advantage."

It may be a while before Newcastle are being talked of as title contenders again, or even challengers for a top four slot. But Ferguson feels those particular battles could turn out to be very tightly fought.

Tottenham gate-crashed the party last season, so Liverpool will be desperate to get back in. Manchester City have once again flexed their financial muscle while, with Phil Jagielka and Mikel Arteta free from injury, Ferguson expects major improvement from Everton.

"Everyone is optimistic at the start of the season and I am no different," said Ferguson.

"I would expect Liverpool to improve with Roy Hodgson. Tottenham are on the upswing given their fortunes last season and Harry Redknapp's experience.

"The interesting one is Everton because they have got all their players back.

"It is going to be a competitive league and we are all aiming to be in the Champions League. That is the priority at all these clubs."

Qualifying for the Champions League would be regarded as a minimum - and a conservative - target at Old Trafford, where the major aim will be to reclaim a title surrendered to Chelsea by just a single point last term.

Although there were a number of matches where United might have bridged the gap, the most glaring one was that defeat to Burnley in the second game of the season which, looking back, seems impossible to visualise.

Yet the Burnley that came up had far more confidence and belief than the one that returned, which is why Ferguson knows United will need to be fully focused to get their campaign off to a winning start.

"You are always wary of a team that has been promoted because their motivation is obvious," said Ferguson.

"Newcastle had a great work ethic last season and I am sure they will battle on Monday. It won't be an easy game."

Ferguson will carefully assess the match-sharpness within his team given those who returned after the World Cup still lack preparation.

Wayne Rooney is one of them, although such is his legendary hunger for action it would be a major surprise if Ferguson began the Premier League without the man who contributed 34 goals to the Red Devils cause last term.

Rooney will soon have a new team-mate too after Wednesday's announcement that United had agreed terms for 20-year-old forward Bebe.

Even Ferguson concedes it is a quite remarkable story given Bebe represented Portugal's national homeless team before being picked up by third tier outfit Estrela Amadora.

Only five weeks ago, Bebe was snapped up by Vitoria Guimaraes on a free transfer after Estrela failed to pay his wages.

Now the 6ft 3in youngster is destined for one of the greatest stages of all.

"When you read all the background, it is a fairytale," said Ferguson.

"When we identify someone of potential we would normally assess them over a longer period but we have a good scout in Portugal, who is very bright.

"He has tremendous instincts about the boy and we have worked on that impulse.

"He is two-footed and very quick, so there is material there and other clubs were starting to hover so we made a quick decision and went for it.

"I am sure we can work on him. We are good with young players."