Why Middle Eastern Money Hasn't Transformed Newcastle into Title Contenders
Eddie Howe isn't typically given to dramatics or grand media statements. Based on his standards, his media briefing after the weekend's loss to West Ham counts as a furious outburst. His side scored first but the opposition were ahead by the interval, as well as hitting the post and seeing a spot-kick overturned by VAR, leading Howe to execute a triple change at the half-time.
“The opening period was particularly irritating,” the coach stated. “I almost could have taken anyone off and I think this indicated of where we were at that stage during the match and it's extremely uncommon for me to feel that way. Actually, I don’t think I have during my tenure as manager of the club, therefore I believed the squad required some shaking up at the break. That’s why I made those decisions.”
Anthony Gordon, Nick Woltemade and Emil Krafth were substituted at the interval and the team did stabilise to an extent in the latter period, without ever appearing like they could get back into the contest against an opponent that had secured just a single victory of their last nine fixtures. Given the congestion the middle of the table currently is, with just three points separating third from 11th, and a nine-point margin between second and 17th, a run of 12 points from 10 games has not left Newcastle stranded but, similarly, they cannot end the campaign in thirteenth place.
The Issue of Expectations
The problem to an extent is one of perception. With the Saudi PIF, the club possess the richest backers in the world. The assumption when the Saudi fund acquired a majority stake of the team in recent years was that it would bring a game-changing impact, similar to the former Chelsea owner achieved at Stamford Bridge or the City Group had at Manchester City. The distinction is that those two owners assumed control before the advent of financial fair play rules (and the ongoing charges against City relate to if they breached those regulations once they were in place).
Profit and sustainability restrictions restrict the ability of owners, however rich, to invest funds on their teams and therefore probably would have slowed any Saudi attempt to elevate the team to the level of Manchester City. However there is no need for Newcastle’s expenditure to have been so restrained as it has been; they could have spent more and remained within the threshold – or simply taken a relatively meagre European fine given their big issue is more with the continental than the Premier League regulation.
Stadium Spending and Financial Regulations
Besides which, infrastructure spending is exempted from PSR calculations; the easiest method to raise income to create more financial flexibility would be to extend or redevelop the arena. Considering the site of St James’ Park, with listed buildings on multiple sides, practically that likely means building an entirely new stadium. There was talk in March of potentially making the nearby relocation to a local park – resistance from local groups could surely have been overcome with a promise to build a new park on the existing ground location – but there has been no movement on that proposal. There has been significant cutbacks from the Saudi fund on a variety of projects as it shifts focus on local investments; the attitude to Newcastle appears entirely in keeping with that change of approach.
Player Sales Situation
The Alexander Isak episode was arose from that conflict. A bolder leadership could have framed his sale as necessary to release funds for additional investment; instead there was a unsuccessful attempt to retain him. That meant the team started the campaign amidst a feeling of disappointment despite the signings of Woltemade, Yoane Wissa, Jacob Ramsey, Malick Thiaw and Anthony Elanga. The opening was indifferent: one win in their initial six games.
But it appeared a corner had been turned. They had won five victories in six matches prior to the weekend, a run that featured convincing wins of a Belgian side and Benfica in the European competition. That’s why the performance against the Hammers was so surprising. The problem perhaps is that the team's approach is extremely intense, very high-octane; a minor decrease in energy can have significant effects. Perhaps the strain of Premier League, Champions League and cup competition, five games in 15 days, had taken its toll. Woltemade started all five matches and looked especially fatigued.
Reality of Modern Football
This is the reality of modern the sport. Managers have to be ready to make changes. The manager has been unlucky that the forward's injury has left him short of forward choices but, no matter how reasonable the reasons, the weekend's showing was inexcusable –especially after scoring first at a ground primed to criticize its own side.
Howe will hope it was just a blip, an off-day when all players is off-colour simultaneously, but if Newcastle are to qualify for the European competition next season, let alone one day launch an genuine championship bid, they must not be as inconsistent as they have been.