Why Saudi Investment Has Not Turned Newcastle into Title Contenders
Eddie Howe is not given to histrionics or sweeping public statements. Based on his standards, his media briefing after the weekend's loss to West Ham counts as a angry outburst. His side scored first but the opposition took the lead by half-time, while also hitting the post and having a penalty overturned by VAR, leading Howe to execute a three substitutions at the half-time.
“The opening period was particularly irritating,” Howe stated. “I almost could have taken anyone off and I think that was a reflection of where we were in that moment in the game and it’s very, very rare for me to feel that way. Actually, I cannot recall having done so since I’ve been manager of the club, so I felt the team needed a significant change at the break. This explains why I did 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 really looking like they might fight back into the game against an opponent that had won only one of their last nine league matches. Given how packed the middle of the standings currently is, with a mere three-point gap dividing the top spots from mid-table, and nine points between second and 17th, a sequence of twelve points from 10 games has not left the Magpies adrift but, similarly, they cannot end the campaign in 13th.
The Issue of Perception
The challenge to an extent is one of public view. With the Saudi PIF, the club possess the richest owners in the globe. The assumption when the PIF bought 80% of the team in recent years was that it would have a transformative effect, as the former Chelsea owner had at Chelsea or Sheikh Mansour had at Manchester City. The difference is that both of those investors took over before the advent of financial fair play regulations (while the ongoing allegations against Manchester City concern whether they violated those regulations once they were implemented).
Profit and sustainability regulations limit the ability of owners, no matter how wealthy, to invest funds on their squads and so in that sense likely might have hindered any Middle Eastern effort to elevate the team to the standard of Manchester City. However 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 limit – or just accepted a relatively meagre Uefa penalty since their big issue is primarily with the continental than the Premier League regulation.
Infrastructure Investment and PSR Regulations
Additionally, infrastructure spending is excluded from PSR assessments; the easiest method to increase revenue to create more PSR flexibility would be to expand or renovate the stadium. Given the site of St James’ Park, with listed buildings on two sides, practically that probably implies constructing an entirely new venue. There was talk in March of potentially undertaking the short move to a local park – opposition from community organizations could surely have been overcome with a promise to build a new park on the existing stadium site – but there has not been no movement on that proposal. There has been significant cutbacks from the Saudi fund on a range of projects as it shifts focus on local investments; the attitude to Newcastle seems entirely in alignment with that strategic shift.
Player Sales Situation
The star striker episode was arose from that conflict. A bolder management could have framed his sale as necessary to free up capital for additional spending; rather there was a unsuccessful attempt to retain him. That meant the team began the season amid a feeling of disappointment despite the acquisitions of Woltemade, Yoane Wissa, Jacob Ramsey, Malick Thiaw and Anthony Elanga. The start was indifferent: one win in their initial six fixtures.
But it seemed a corner had been turned. They secured five victories in six matches prior to Sunday, a streak that included demolitions of Union Saint-Gilloise and Benfica in the Champions League. That’s why the display against the Hammers was such a shock. The problem perhaps is that the team's approach is extremely intense, high-energy; a slight drop-off in energy can have profound effects. Perhaps the strain of Premier League, European and cup matches, five games in 15 days, had got to them. The German forward featured in all five matches and looked especially weary.
The Nature of Contemporary Soccer
That’s the nature of modern football. Managers must be ready to make changes. Howe has been unfortunate that the forward's injury has meant he is lacking forward choices but, no matter how valid the explanations, Sunday’s showing was inexcusable –particularly after taking the lead at a stadium ready to criticize its own side.
The Newcastle boss will hope it was merely a temporary setback, an off-day when all players is below par at once, but if Newcastle are to qualify for the Champions League in the future, let alone one day launch an genuine championship bid, they cannot be as inconsistent as this.