Why Middle Eastern Investment Hasn't Turned Newcastle into Championship Contenders
The Newcastle manager is not prone to dramatics or sweeping public pronouncements. So by his standards, his press conference after the weekend's loss to West Ham counts as a angry tirade. His side took an early lead but the opposition took the lead by half-time, as well as hitting the post and having a penalty overturned by VAR, leading Howe to make a triple change at the half-time.
“The opening period was particularly irritating,” the coach stated. “Virtually any player could have been substituted and I believe that was a reflection of our performance level at that stage during the match and it’s very, very rare for me to feel that way. In fact, I don’t think I have during my tenure as manager of the club, therefore I believed the team needed some shaking up at half-time. This explains why I did what I did.”
Anthony Gordon, Nick Woltemade and Emil Krafth all came off at half-time and the team managed to steady to an extent in the second half, but never appearing like they might get back into the contest against an opponent that had secured just a single victory of their previous nine fixtures. Considering how packed the centre of the table currently is, with a mere three-point gap dividing third from 11th, and a nine-point margin between second and 17th, a run of twelve points from 10 games has not left Newcastle stranded but, equally, they must not end the campaign in thirteenth place.
The Issue of Perception
The challenge partially is one of public view. With the Saudi PIF, the club possess the richest owners in the world. The expectation when the Saudi fund bought 80% of the club in 2021 was that it would have a game-changing impact, similar to Roman Abramovich achieved at Stamford Bridge or the City Group had at Manchester City. The distinction is that both of those owners assumed control prior to the introduction of FFP rules (while the current charges against Manchester City relate to whether they violated those guidelines once they were in place).
Financial restrictions limit the capacity of proprietors, no matter how wealthy, to spend money on their squads and so in that sense probably would have hindered any Middle Eastern effort to raise the team to the level of City. But it wasn't necessary for the club's expenditure to have been quite as cautious as it has been; they could have invested further and stayed inside the limit – or simply taken a fairly minor European penalty given their major issue is more with the continental than the domestic rules.
Stadium Spending and PSR Rules
Besides which, infrastructure spending is exempted from Profit and Sustainability calculations; the easiest way to increase revenue to generate more PSR flexibility would be to extend or redevelop the stadium. Considering the location of St James’ Park, with protected structures on multiple sides, practically that probably implies constructing an completely new venue. Rumors circulated in March of potentially making the short move to Leazes Park – opposition from local groups could surely have been overcome with a promise to create a new park on the existing stadium site – but there has been any progress on that plan. There has been substantial cutbacks from the Saudi fund on a range of initiatives as it refocuses on local investments; the approach to Newcastle seems completely in alignment with that strategic shift.
Player Sales Situation
The Alexander Isak saga was arose from that conflict. A more confident leadership might have framed his sale as essential to free up funds for additional investment; instead there was a unsuccessful effort to keep him. That meant Newcastle began the season amid a sense of frustration despite the acquisitions of Woltemade, Yoane Wissa, Jacob Ramsey, Malick Thiaw and Anthony Elanga. The opening was indifferent: a single victory in their first six fixtures.
But it appeared a corner had been turned. They secured five in six prior to the weekend, a streak that featured demolitions of a Belgian side and a Portuguese club in the European competition. This explains the display against West Ham was so surprising. The problem perhaps is that Newcastle’s approach is extremely intense, very high-octane; a minor decrease in energy can have significant consequences. Maybe the strain of domestic, European and cup competition, five games in 15 days, had taken its toll. Woltemade started each of those games and appeared particularly fatigued.
The Nature of Modern Football
That’s the nature of today's the sport. Managers have to be ready to make changes. The manager has been unlucky that the forward's injury has meant he is short of forward choices but, no matter how valid the explanations, the weekend's showing was inexcusable –particularly following taking the lead at a stadium primed to turn on its own side.
Howe will wish it was merely a temporary setback, an off-day when all players is off-colour simultaneously, but if Newcastle are to secure the Champions League next season, let alone one day mount an genuine championship bid, they cannot be as inconsistent as this.