Sure, but you are assuming that he had decent options in the PL. I don't understand why Sunderland didn't try harder to bring Yedlin back, given that he did well there last season and their RB situation is pretty dire right now. But they didn't get the job done; with a new manager priorities can change. I don't know what else was really on the table for Yedlin.
I'd like to think that Yedlin would have a 95% chance of being promoted to the PL with Newcastle, but I don't think that any club in the Championship ever is that strong a bet to go up, this early in the season. It's a long, grueling schedule in a competitive league. Fingers crossed that it all works out.
It looks increasingly likely that Newcastle is going to sell Daryl Janmaat, which clears a significant roadblock for Yedlin at RB there. Perhaps one of our resident Newcastle fans can break down the RB situation in greater detail...
One advantage of moving to a strong Championship club is that Yedlin will be able to hone his attacking skills -- a challenge for a lower-end PL club that is always on the defensive. I'm grasping at straws, I wish he had more serious PL interest, but I guess he'll just have to make the most of it.
One report says it's a permanent transfer for £5m.