Why Saudi Investment Hasn't Turned The Magpies into Championship Contenders
Eddie Howe is not prone to histrionics or grand media statements. Based on his standards, his media briefing after Sunday’s 3-1 defeat qualifies as a angry tirade. Newcastle scored first but the opposition took the lead 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 half-time.
“The opening period was particularly irritating,” Howe said. “I almost could have taken anyone off and I think this indicated of our performance level in that moment in the game and it’s very, very rare for me to feel that way. In fact, I cannot recall having done so during my tenure as head coach of the club, therefore I believed the team needed a significant change at the break. That’s why I made what I did.”
Anthony Gordon, Nick Woltemade and Emil Krafth were substituted at the interval and the team did stabilise somewhat in the second half, but never appearing like they might fight back into the contest against a side that had won only one of their previous nine fixtures. Given the congestion the middle of the standings is, with a mere three-point gap separating third from 11th, and a nine-point margin between second and 17th, a run of twelve points from ten matches has not left Newcastle stranded but, equally, they cannot finish the season in 13th.
The Problem of Perception
The challenge to an extent is one of perception. With the Saudi PIF, the club have the richest backers in the world. The assumption at the time the PIF acquired a majority stake of the team in 2021 was that it would bring a game-changing impact, as Roman Abramovich had at Chelsea or the City Group had at Manchester City. The distinction is that those two owners took over prior to the advent of FFP regulations (while the current charges against Manchester City concern if they breached those regulations after they were implemented).
Profit and sustainability restrictions limit the capacity of owners, no matter how wealthy, to spend money on their teams and therefore likely would have hindered every Middle Eastern attempt to raise the team to the level of City. But there is no need for the club's expenditure to have been quite as cautious as it has been; they might have spent more and stayed inside the threshold – or just accepted a fairly minor Uefa penalty given their major issue is more with the continental than the Premier League regulation.
Infrastructure Investment and Financial Rules
Besides which, stadium development is exempted from Profit and Sustainability calculations; the simplest method to raise income to generate additional financial headroom would be to expand or renovate the stadium. Given the location of the home ground, with listed buildings on two sides, in reality that probably implies constructing an entirely new venue. There was talk in spring of possibly undertaking the short move to a local park – opposition from local groups might have been overcome with a commitment to build a replacement green space on the existing stadium site – but there has been any progress on that plan. There has been significant cutbacks from the Saudi fund on a range of projects as it refocuses on domestic affairs; the attitude to Newcastle seems completely in alignment with that strategic shift.
The Alexander Isak Saga
The Alexander Isak episode was arose from that conflict. A more confident management could have framed his sale as essential to release capital for further spending; rather there was a vain attempt to keep him. That meant the team began the season amidst a feeling of disappointment despite the signings of Woltemade, Yoane Wissa, Jacob Ramsey, Malick Thiaw and Anthony Elanga. The start was mixed: one win in their initial six fixtures.
Yet it seemed a turning point had been turned. They had won five victories in six matches prior to Sunday, a streak that featured demolitions of Union Saint-Gilloise and a Portuguese club in the Champions League. That’s why the display against West Ham was so surprising. The issue maybe is that Newcastle’s style is very aggressive, very high-octane; a minor decrease in energy can have significant effects. Maybe the strain of Premier League, Champions League and Carabao Cup matches, five games in a fortnight, had got to them. Woltemade featured in each of those matches and appeared especially fatigued.
The Nature of Contemporary Soccer
That’s the reality of today's football. Managers have to be ready to make changes. The manager has been unlucky that Wissa’s fitness issue has meant he is lacking attacking options but, no matter how reasonable the explanations, the weekend's showing was inexcusable –particularly following scoring first at a stadium ready to turn on its home team.
The Newcastle boss will hope it was merely a temporary setback, an off-day when all players is below par simultaneously, but if the Magpies are to qualify for the Champions League next season, not to mention one day launch an actual title challenge, they must not be as inconsistent as they have been.