Why Saudi Money Has Not Turned Newcastle into Championship Contenders
The Newcastle manager isn't typically given to histrionics or grand public pronouncements. Based on his standards, his media briefing following Sunday’s 3-1 defeat qualifies as a angry tirade. His side scored first but the opposition were ahead by half-time, while also hitting the post and seeing a spot-kick revoked by VAR, prompting Howe to make a triple change at the break.
“The opening period was particularly irritating,” the coach stated. “Virtually any player could have been substituted and I think this indicated of where we were in that moment during the match and it's extremely uncommon for me to have that impression. Actually, I don’t think having done so during my tenure as head coach of the club, so I felt the team required a significant change at half-time. This explains why I did those decisions.”
Anthony Gordon, Nick Woltemade and Emil Krafth were substituted at half-time and Newcastle managed to steady to an extent in the latter period, but never really looking like they could fight back into the contest against a side that had won only one of their previous nine league matches. Given the congestion the middle of the table is, with just three points separating third from 11th, and nine points between second and 17th, a sequence of twelve points from 10 games has not left the Magpies adrift but, equally, they cannot finish the season in thirteenth place.
The Issue of Expectations
The challenge partially is one of perception. In the Saudi Public Investment Fund, the club have the wealthiest owners in the world. The assumption at the time the PIF bought a majority stake of the team in 2021 was that it would bring a transformative effect, similar to Roman Abramovich achieved at Stamford Bridge or Sheikh Mansour had at Manchester City. The distinction is that those two owners took over prior to the advent of financial fair play regulations (while the current allegations against City relate to if they breached those regulations after they were in place).
Financial restrictions restrict the ability of owners, however rich, to spend money on their squads and so in that sense probably might have slowed any Saudi attempt to elevate Newcastle to the standard of Manchester City. But it wasn't necessary for the club's spending to have been so restrained as it has; they could have invested further and remained within the threshold – or simply taken a fairly minor European fine given their big issue is primarily with the European than the domestic rules.
Infrastructure Spending and PSR Regulations
Besides which, infrastructure spending is exempted from PSR calculations; the simplest method to raise income to generate additional financial headroom would be to expand or redevelop the stadium. Given the location of St James’ Park, with protected structures on two sides, in reality that likely implies building an entirely new venue. There was talk in March of potentially undertaking the nearby relocation to a local park – opposition from local groups might have been overcome with a promise to create a new park on the current stadium site – but there has not been any progress on that plan. There has been significant cutbacks from the PIF on a variety of initiatives as it shifts focus on domestic affairs; the approach to Newcastle seems entirely in keeping with that strategic shift.
The Alexander Isak Saga
The Alexander Isak episode was born of that tension. A more confident management might have portrayed his transfer as essential to release funds for additional investment; rather there was a vain effort to keep him. This resulted in Newcastle started the campaign amid a sense of disappointment despite the signings of several new players. The start was mixed: one win in their initial six games.
Yet it appeared a turning point had been turned. They secured five in six prior to Sunday, a streak that featured convincing wins of Union Saint-Gilloise and a Portuguese club in the European competition. That’s why the performance against West Ham was such a shock. The issue perhaps is that Newcastle’s style is extremely intense, high-energy; a slight drop-off in energy can have significant consequences. Perhaps the pressure of Premier League, European and Carabao Cup matches, five fixtures in a fortnight, had taken its toll. The German forward started each of those games and looked especially fatigued.
The Nature of Modern Soccer
This is the reality of modern the sport. Managers must be ready to rotate. The manager has been unlucky that the forward's fitness issue has meant he is short of forward choices but, regardless of how valid the explanations, Sunday’s performance was unacceptable –especially following scoring first at a ground ready to criticize its own side.
Howe will wish it was just a blip, an off-day when all players is below par at once, but if Newcastle are to secure the Champions League in the future, not to mention one day mount an genuine title challenge, they must not be as inconsistent as they have been.