"But I'm delighted with the move and excited about starting another chapter - it's a step up.
"Newcastle are massively supported and, if they can get things right in the next couple of years, they can definitely be back up there challenging the top four."
Neither Nolan's old nor new club are out of relegation danger yet, but he is hopeful both will be in the top flight next term.
"At the moment we're in a scrap with Bolton but I'm sure we'll both be safe," he said.
"There's no doubt in my mind that they are going to stay in the Premier League."
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