Why Saudi Investment Hasn't Turned The Magpies into Championship Contenders
Eddie Howe isn't typically prone to dramatics or grand media pronouncements. So by his usual demeanor, his press conference following the weekend's loss to West Ham qualifies as a furious tirade. Newcastle scored first but the opposition took the lead by half-time, as well as hitting the post and seeing a spot-kick overturned by VAR, prompting Howe to make a triple change at the half-time.
“The opening period was particularly irritating,” Howe said. “I almost could have taken anyone off and I believe this indicated of our performance level at that stage during the match and it's extremely uncommon for me to have that impression. In fact, I don’t think having done so during my tenure as head coach of Newcastle, therefore I believed the squad required a significant change at the break. This explains why I did those decisions.”
Anthony Gordon, Nick Woltemade and Emil Krafth all came off at half-time and Newcastle managed to steady to an extent in the latter period, but never appearing like they might get back into the contest against an opponent that had secured just a single victory of their last nine league matches. Given the congestion the middle of the table is, with a mere three-point gap separating the top spots from mid-table, and a nine-point margin between second and 17th, a run of twelve points from ten matches has not left the Magpies stranded but, equally, they must not end the campaign in 13th.
The Issue of Expectations
The problem partially is one of public view. With the Saudi PIF, the club have the richest owners in the globe. The assumption at the time the PIF bought 80% of the club in 2021 was that it would bring a game-changing impact, as Roman Abramovich had at Chelsea or Sheikh Mansour did at the Etihad. The difference is that those two investors assumed control before the advent of financial fair play regulations (while the ongoing charges against Manchester City concern if they violated those regulations once they were in place).
Profit and sustainability restrictions restrict the capacity of owners, no matter how wealthy, to invest funds on their squads and therefore likely might have hindered any Middle Eastern effort to raise Newcastle to the standard of Manchester City. However there is no need for the club's expenditure to have been quite as cautious as it has been; they could have spent more and stayed inside the threshold – or simply taken a fairly minor European penalty since their major issue is more with the European than the Premier League rules.
Stadium Spending and Financial Regulations
Additionally, infrastructure spending is excluded from PSR calculations; the easiest way to raise income to generate more financial headroom would be to extend or redevelop the arena. Given the location of St James’ Park, with protected structures on two sides, practically that probably means constructing an completely new stadium. There was talk in March of potentially undertaking the nearby relocation to Leazes Park – opposition from local groups might have been surmounted with a commitment to create a replacement green space on the existing ground location – but there has not been no movement on that plan. There has been substantial retrenchment from the PIF on a variety of initiatives as it shifts focus on local investments; the approach to Newcastle seems entirely in keeping with that change of approach.
The Alexander Isak Situation
The star striker saga was arose from that conflict. A more confident management might have framed his transfer as essential to free up capital for further investment; rather there was a vain effort to retain him. This resulted in Newcastle started the campaign amidst a sense of frustration despite the signings of several new players. The opening was indifferent: a single victory in their initial six games.
Yet it seemed a corner had been turned. They had won five in six prior to the weekend, a streak that included demolitions of Union Saint-Gilloise and Benfica in the European competition. This explains the display against the Hammers was such a shock. The problem perhaps is that Newcastle’s style is very aggressive, high-energy; a slight drop-off in energy can have significant effects. Maybe the pressure of domestic, European and cup competition, five fixtures in 15 days, had taken its toll. The German forward featured in all five games and appeared especially weary.
The Nature of Modern Soccer
That’s the nature of modern the sport. Managers must be prepared to make changes. The manager has been unlucky that the forward's fitness issue has left him short of forward choices but, regardless of how reasonable the reasons, Sunday’s showing was inexcusable –particularly after taking the lead at a stadium primed to criticize its home team.
Howe will hope it was just a blip, an off-day when all players is off-colour at once, but if Newcastle are to secure the Champions League in the future, let alone one day launch an genuine title challenge, they cannot be as inconsistent as this.