Why Saudi Investment Hasn't Transformed Newcastle into Championship Challengers
The Newcastle manager isn't typically given to dramatics or sweeping media statements. Based on his usual demeanor, his media briefing following the weekend's 3-1 defeat counts as a furious outburst. His side took an early lead but the opposition were ahead by half-time, while also striking the woodwork and seeing a spot-kick overturned by VAR, prompting Howe to make a triple change at the break.
“The opening period was particularly irritating,” Howe stated. “Virtually any player could have been substituted and I believe that was a reflection of our performance level in that moment during the match and it's extremely uncommon for me to have that impression. Actually, I cannot recall I have during my tenure as manager of the club, therefore I believed the team required a significant change at the break. That’s why I made what I did.”
Three key players all came off at the interval and Newcastle managed to steady to an extent in the latter period, without ever appearing like they might get back into the contest against an opponent that had won only one of their last nine league matches. Given the congestion the centre of the standings is, with just three points separating third from 11th, and a nine-point margin between the upper and lower ranks, a sequence of twelve points from 10 games has not left the Magpies stranded but, equally, they must not end the campaign in thirteenth place.
The Issue of Perception
The problem to an extent is one of public view. In the Saudi Public Investment Fund, Newcastle have the richest backers in the globe. The expectation at the time the Saudi fund acquired 80% of the club in recent years was that it would have a game-changing impact, as the former Chelsea owner had at Chelsea or Sheikh Mansour did at the Etihad. The difference is that both of those owners assumed control before the introduction of financial fair play rules (while the current charges against City relate to if they violated those guidelines after they were in place).
Profit and sustainability regulations restrict the ability of proprietors, no matter how wealthy, to spend money on their teams and so in that sense likely might have hindered every Middle Eastern attempt to elevate Newcastle to the level of City. But there is no need for the club's expenditure to have been so restrained as it has been; they might have invested further and stayed inside the threshold – or simply taken a fairly minor European penalty given their big problem is more with the continental than the Premier League regulation.
Infrastructure Spending and PSR Rules
Additionally, stadium development is excluded from Profit and Sustainability assessments; the simplest method to raise income to create additional financial headroom would be to expand or renovate the arena. Considering the location of St James’ Park, with listed buildings on two sides, in reality that likely means constructing an entirely new stadium. Rumors circulated in March of potentially making the short move to a local park – resistance from community organizations might have been overcome with a promise to create a replacement green space on the current stadium site – but there has been no movement on that plan. There has occurred significant cutbacks from the PIF on a range of projects as it shifts focus on domestic affairs; the attitude to the football club appears completely in alignment with that strategic shift.
Player Sales Saga
The Alexander Isak episode was born of that conflict. A bolder leadership might have portrayed his transfer as necessary to release capital for additional investment; rather there was a unsuccessful effort to keep him. That meant Newcastle began the season amid a feeling of disappointment despite the acquisitions of several new players. The opening was mixed: one win in their initial six fixtures.
Yet it appeared a turning point was reached. They secured five victories in six matches prior to Sunday, a streak that included demolitions of a Belgian side and a Portuguese club in the European competition. This explains the performance against the Hammers was such a shock. The problem maybe is that Newcastle’s approach is very aggressive, high-energy; a slight drop-off in energy can have profound consequences. Perhaps the strain of Premier League, Champions League and Carabao Cup competition, five games in 15 days, had taken its toll. Woltemade started all five matches and appeared particularly fatigued.
The Nature of Contemporary Football
This is the reality of today's football. Coaches must be ready to make changes. The manager has been unlucky that Wissa’s injury has meant he is short of attacking options but, no matter how valid the reasons, Sunday’s performance was unacceptable –particularly following scoring first at a ground ready to turn on its own side.
Howe will hope it was merely a temporary setback, an off-day when everybody is below par simultaneously, but if Newcastle are to secure the European competition in the future, let alone eventually launch an genuine title challenge, they must not be as unreliable as they have been.