Why Saudi Investment Has Not Transformed The Magpies into Title Challengers
Eddie Howe isn't typically prone to dramatics or grand public statements. Based on his usual demeanor, his media briefing after the weekend's 3-1 defeat counts as a angry outburst. Newcastle took an early lead but West Ham were ahead by the interval, while also hitting the post and having a penalty overturned by VAR, prompting Howe to make a three substitutions at the half-time.
“The opening period was particularly irritating,” Howe stated. “I almost could have taken anyone off and I think that was a reflection of where we were at that stage in the game and it's extremely uncommon for me to have that impression. In fact, I cannot recall I have since I’ve been head coach of the club, therefore I believed the team required a significant change at half-time. This explains why I made what I did.”
Anthony Gordon, Nick Woltemade and Emil Krafth all came off at the interval and the team managed to steady somewhat in the latter period, but never really looking like they could get back into the game against a side that had secured just a single victory of their previous nine fixtures. Considering the congestion the centre of the standings currently is, with a mere three-point gap dividing third from 11th, and a nine-point margin between second and 17th, a run of 12 points from ten matches has not left the Magpies adrift but, equally, they must not finish the season in 13th.
The Issue of Expectations
The problem to an extent is one of public view. With the Saudi PIF, the club possess the richest backers in the world. The expectation when the Saudi fund acquired 80% of the team in recent years was that it would have a transformative effect, similar to the former Chelsea owner achieved at Stamford Bridge or Sheikh Mansour had at Manchester City. The distinction is that those two owners assumed control prior to the advent of FFP rules (while the current allegations against Manchester City relate to if they violated those guidelines after they were in place).
Financial regulations limit the capacity of proprietors, no matter how wealthy, to spend money on their squads and therefore probably would have hindered any Saudi attempt to raise Newcastle to the standard of City. However there is no need for the club's spending to have been quite as cautious as it has been; they might have spent more and remained within the limit – or simply taken a fairly minor European penalty since their major problem is primarily with the European than the domestic rules.
Infrastructure Spending and PSR Rules
Additionally, infrastructure spending is exempted from PSR calculations; the easiest method to increase revenue to create additional PSR flexibility would be to expand or renovate the arena. Considering the site of St James’ Park, with listed buildings on multiple sides, practically that probably means building an completely new venue. Rumors circulated in March of potentially undertaking the nearby relocation to Leazes Park – resistance from local groups could surely have been overcome with a promise to build a replacement green space on the current ground location – but there has not been no movement on that plan. There has been significant retrenchment from the Saudi fund on a variety of initiatives as it refocuses on local investments; the attitude to Newcastle appears entirely in keeping with that change of approach.
The Alexander Isak Saga
The Alexander Isak episode was arose from that tension. A more confident management might have portrayed his sale as essential to free up capital for additional investment; rather there was a unsuccessful attempt to keep him. That meant Newcastle began the season amidst a sense of frustration even with the signings of Woltemade, Yoane Wissa, Jacob Ramsey, Malick Thiaw and Anthony Elanga. The opening was mixed: one win in their initial six fixtures.
Yet it seemed a turning point had been turned. They secured five in six prior to Sunday, a run that included convincing wins of Union Saint-Gilloise and Benfica in the European competition. This explains the display against the Hammers was so surprising. The problem perhaps is that the team's style is extremely intense, very high-octane; a slight drop-off in intensity can have profound consequences. Maybe the pressure of Premier League, European and Carabao Cup matches, five games in 15 days, had taken its toll. The German forward featured in all five games and appeared particularly weary.
Reality of Modern Football
That’s the nature of modern the sport. Managers must be ready to rotate. Howe has been unlucky that Wissa’s injury has meant he is short of attacking options but, regardless of how reasonable the explanations, the weekend's showing was inexcusable –especially following scoring first at a stadium ready to criticize its own side.
The Newcastle boss will hope it was merely a temporary setback, an off-day when everybody is below par simultaneously, but if the Magpies are to secure the Champions League in the future, let alone eventually launch an actual championship bid, they must not be as inconsistent as they have been.