Ferguson made a brief 11-game spell during the previous campaign and the Northern Ireland international impressed.
But a full season-long loan, with no chance of pulling him back should there be injuries at Newcastle, isn't that pushing the boat out?
Or is Pardew still not sure about him?
Arter all, the ball is in Newcastle's court - Birmingham are not signing him - it's a loan deal, and you would expect a get-out clause if he was needed.
Shane Ferguson: “I am really looking forward to it.
“I had a meeting with the (Newcastle) manager and he said he wanted me to get out and have a full season of games.
“I am really happy it has happened like this.
“It’s good for me to get experience and come back to Birmingham.
“I just want to play as many games as I can and help the team as much as I can.
“I came for the last two months and that makes it a lot easier this time. I know all the lads and staff here.
“And the loan being over a season, that’s good for me - and hopefully Birmingham, too.
“I don’t mind playing anywhere down the left-hand side.
“Wing-back, have played there at Newcastle and know what it’s all about.
“He (Lee Clark) wants me to get plenty of crosses into the box and just assist as much as I can.
“Eventually I want to make a breakthrough at Newcastle.
“But I am grateful to Birmingham for letting me come here on loan and gain experience and help them.
“I think we will do really well.
“Last year we showed what we were capable of and I think we can improve.
“It is a really tough league and as you saw last year, anyone can beat anyone.
“So you just don’t know with the results.
“Hopefully we can get some consistency this year and push on - and I think we can.”
Source: Newcastle United Mad