The Reasons Saudi Investment Has Not Turned Newcastle into Championship Contenders
Eddie Howe isn't typically prone to dramatics or grand media statements. So by his usual demeanor, his press conference after Sunday’s 3-1 defeat counts as a furious outburst. Newcastle took an early lead but the opposition were ahead by the interval, as well as hitting the post and having a penalty revoked by VAR, leading Howe to make a three substitutions at the break.
“The opening period was particularly irritating,” Howe stated. “Virtually any player could have been substituted and I think this indicated of our performance level at that stage during the match and it’s very, very rare for me to have that impression. Actually, I don’t think I have since I’ve been manager of the club, therefore I believed the team needed a significant change at half-time. That’s why I made what I did.”
Anthony Gordon, Nick Woltemade and Emil Krafth were substituted at the interval and Newcastle did stabilise to an extent in the latter period, without ever appearing like they could fight back into the contest against an opponent that had secured just a single victory of their previous nine league matches. Considering the congestion the centre of the standings is, with just three points dividing the top spots from mid-table, and nine points between the upper and lower ranks, a sequence of 12 points from 10 games has not left Newcastle adrift but, equally, they cannot end the campaign in 13th.
The Issue of Perception
The challenge to an extent is one of public view. In the Saudi Public Investment Fund, Newcastle possess the richest backers in the world. The assumption at the time the Saudi fund acquired a majority stake of the team in recent years was that it would have a transformative effect, as Roman Abramovich had at Chelsea or Sheikh Mansour had at Manchester City. The distinction is that those two investors assumed control before the introduction of FFP rules (and the current allegations against City relate to if they breached those regulations once they were implemented).
Profit and sustainability restrictions limit the capacity of owners, no matter how wealthy, to spend money on their squads and so in that sense likely would have hindered every Middle Eastern attempt to raise Newcastle to the standard of City. However it wasn't necessary for the club's spending to have been so restrained as it has; they might have spent more and remained within the limit – or simply taken a fairly minor European penalty since their major issue is primarily with the continental than the Premier League rules.
Infrastructure Spending and Financial Rules
Besides which, stadium development is excluded from PSR calculations; the simplest way to raise income to generate more PSR flexibility would be to expand or renovate the stadium. Considering the location of St James’ Park, with protected structures on multiple sides, practically that probably means constructing an completely new stadium. Rumors circulated in spring of potentially making the short move to Leazes Park – resistance from community organizations might have been surmounted with a commitment to create a new park on the existing stadium site – but there has been any progress on that proposal. There has been significant cutbacks from the Saudi fund on a variety of projects as it shifts focus on domestic affairs; the attitude to Newcastle appears entirely in keeping with that strategic shift.
The Alexander Isak Situation
The star striker episode was arose from that conflict. A bolder leadership could have framed his transfer as essential to free up capital for additional spending; rather there was a vain attempt to keep him. This resulted in the team began the season amid a feeling of frustration even with the signings of several new players. The opening was mixed: one win in their first six fixtures.
But it appeared a corner had been turned. They secured five victories in six matches before the weekend, a streak that featured convincing wins of a Belgian side and a Portuguese club in the European competition. This explains the performance against West Ham was so surprising. The problem perhaps is that the team's approach is very aggressive, very high-octane; a minor decrease in energy can have profound consequences. Maybe the pressure of Premier League, Champions League and Carabao Cup matches, five games in 15 days, had got to them. The German forward featured in each of those matches and looked especially fatigued.
The Nature of Modern Football
This is the reality of modern football. Coaches have to be prepared to make changes. Howe has been unfortunate that Wissa’s injury has meant he is lacking forward choices but, no matter how valid the explanations, Sunday’s showing was inexcusable –especially after taking the lead at a ground primed to turn on its home team.
Howe will wish it was merely a temporary setback, one of those days when everybody is below par simultaneously, but if Newcastle are to qualify for the European competition in the future, let alone eventually mount an genuine championship bid, they cannot be as inconsistent as they have been.