You could have put MLT, Stevie Williams, a couple of Wallaces even Shearer at a push with these additions you could get a reasonable team that would hold it's own in the 1st division or what ever itis called these days.
http://www.premierleague.com/en-gb/rules-regulations.html
if this site is correct it looks to me as there are absolutely no rules so as anything should go a free for all
After a year or 2 in the premiership we will obviously be playing in the Champions league the new stadium will be well progressed or completely Built (what is happening at Stoneham?) so why would Adkins want to go back up north to an antiquated stadium and a team that has more than likely just escaped relegation.