Why Saudi Investment Has Not Transformed Newcastle into Title Contenders
Eddie Howe isn't typically given to dramatics or grand media statements. So by his standards, his media briefing following the weekend's loss to West Ham qualifies as a angry tirade. Newcastle took an early lead but the opposition were ahead by half-time, as well as hitting the post and having a penalty revoked by VAR, leading Howe to make a triple change at the break.
“The opening period was particularly irritating,” the coach stated. “I almost could have taken anyone off and I believe this indicated of our performance level in that moment in the game and it's extremely uncommon for me to have that impression. In fact, I don’t think I have during my tenure as manager of the club, so I felt the squad required a significant change at the break. This explains why I made those decisions.”
Three key players all came off at half-time and Newcastle managed to steady somewhat in the latter period, without ever really looking like they might fight back into the game against a side that had won only one of their last nine league matches. Given how packed the centre of the table currently is, with just three points separating third from 11th, and nine points between second and 17th, a run of 12 points from 10 games has not left Newcastle adrift but, equally, they cannot end the campaign in thirteenth place.
The Issue of Expectations
The problem partially is one of perception. With the Saudi PIF, Newcastle have the wealthiest backers in the globe. The assumption when the PIF acquired 80% of the club in recent years was that it would bring a game-changing impact, as Roman Abramovich achieved at Stamford Bridge or the City Group did at the Etihad. The distinction is that both of those owners assumed control before the introduction of financial fair play rules (and the ongoing allegations against City concern whether they violated those guidelines once they were in place).
Financial regulations restrict the capacity of proprietors, no matter how wealthy, to invest funds on their squads and therefore likely would have slowed any Saudi attempt to raise Newcastle to the standard of City. But there is no need for the club's expenditure to have been quite as cautious as it has; they might have invested further and remained within the threshold – or just accepted a fairly minor European fine given their big issue is primarily with the continental than the domestic regulation.
Stadium Investment and Financial Rules
Additionally, infrastructure spending is excluded from Profit and Sustainability calculations; the easiest method to raise income to generate more financial headroom would be to extend or redevelop the stadium. Considering the location of the home ground, with protected structures on multiple sides, in reality that probably implies building an entirely new stadium. There was talk in March of possibly undertaking the short move to a local park – resistance from local groups might have been surmounted with a promise to create a replacement green space on the existing ground location – but there has not been any progress on that plan. There has occurred substantial cutbacks from the Saudi fund on a range of initiatives as it refocuses on domestic affairs; the attitude to the football club seems completely in alignment with that change of approach.
The Alexander Isak Saga
The Alexander Isak saga was born of that tension. A bolder management could have portrayed his transfer as essential to release capital for additional investment; instead there was a vain effort to keep him. This resulted in Newcastle began the season amid a sense of disappointment despite the acquisitions of several new players. The start was indifferent: a single victory in their first six games.
But it seemed a corner had been turned. They had won five in six prior to Sunday, a run that included convincing wins of Union Saint-Gilloise and a Portuguese club in the Champions League. That’s why the performance against West Ham was so surprising. The problem maybe is that Newcastle’s approach is very aggressive, very high-octane; a minor decrease in energy can have profound effects. Maybe the pressure of Premier League, European and cup competition, five fixtures in 15 days, had got to them. The German forward started all five matches and looked especially weary.
The Nature of Contemporary Football
That’s the nature of today's the sport. Coaches have to be ready to rotate. The manager has been unlucky that the forward's injury has left him lacking forward choices but, regardless of how reasonable the explanations, Sunday’s performance was unacceptable –particularly following scoring first at a stadium primed to turn on its home team.
The Newcastle boss will hope it was merely a temporary setback, one of those days when everybody is below par simultaneously, but if the Magpies are to qualify for the Champions League next season, let alone eventually mount an actual championship bid, they must not be as inconsistent as this.