Elano believes Newcastle United "will become powerful in Europe" after they qualified for next season's Champions League.
The Magpies finished fourth in Eddie Howe's first full term at St James' Park, their highest top-flight finish since the 2002-03 campaign under Bobby Robson.
Howe was appointed in 2021 shortly after Newcastle were taken over by a Saudi-backed consortium with the club spending over £200million in the transfer market since, a number that is sure to increase in the upcoming window ahead of a busy fixture list next season.
Elano, who scored 14 goals in 62 Premier League appearances for Manchester City between 2007 and 2009, feels the huge financial backing for Howe should see them become major players in Europe.
"Things are getting much more equal," Elano told Stats Perform. "Especially the clubs that didn't have the structure of [Manchester] United, Arsenal, Chelsea, who were the winning clubs.
"Newcastle, for example, who are in the Champions League, are also a powerful club. And they will become powerful in Europe, because they have the money for that. It is a club with an absurd growth margin."
Elano revealed he wanted to wear Newcastle's colours after facing them and maintains the Magpies can catch up to the Premier League's elite clubs.
"I confess to you that I wanted to play for Newcastle," Elano added. "I played a few games against Newcastle and I saw the quality of the fans, the stadium and the structure of the club.
"In world football, today, whoever doesn't have the training structure, the staff, the club structure, will be left behind.
"If we look at the Premier League, Liverpool didn't fight for the title. Arsenal were six or seven points ahead and lost the title. [Manchester] United were almost out [of the Champions League] again. Chelsea are out of the next Champions League.
"So, the organisation and the project of each club needs consistent work. Otherwise, whether it's the Premier League or any other league, clubs will fall behind."
In a career that also saw him play for the likes of Shakhtar Donetsk and Santos, attacking midfielder Elano made 50 appearances for his national team Brazil between 2004 and 2011.
With fellow South American native Mauricio Pochettino being appointed at Chelsea after the Blues finished in the bottom half of the Premier League last season, Elano says the former Tottenham boss must be given time to succeed after a tumultuous spell at Stamford Bridge.
"I think he can be successful if they give him time to work," Elano said. "If they detected that he should be the coach, they should give him time.
"A player, in three or four months, can be sold for £100million. Because in three months you can score goals, put in brilliant performances, then someone sees you and takes you. Not the coach. The coach in three months is formatting the team, setting up the team with his ideas.
"You get a team of 20 players, each one is different, each one has his own characteristics. And the coach has to put this together. It takes time."