Why Saudi Investment Has Not Turned Newcastle into Title Contenders
The Newcastle manager isn't typically prone to histrionics or sweeping media statements. Based on his usual demeanor, his press conference after Sunday’s 3-1 defeat counts as a furious outburst. His side scored first but the opposition were ahead by half-time, as well as striking the woodwork and having a penalty overturned by VAR, leading Howe to execute a three substitutions at the half-time.
“That was the frustrating thing about the first half,” the coach 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 feel that way. Actually, I cannot recall I have during my tenure as head coach of the club, therefore I believed the squad needed a significant change at half-time. This explains why I made what I did.”
Three key players all came off at the interval and the team managed to steady somewhat in the latter period, but never appearing like they could fight back into the contest against an opponent that had secured just a single victory of their last nine league matches. Considering how packed the centre of the standings is, with a mere three-point gap dividing the top spots from mid-table, and a nine-point margin between second and 17th, a run of twelve points from ten matches has not placed the Magpies adrift but, equally, they cannot end the campaign in 13th.
The Issue of Perception
The challenge partially is one of public view. With the Saudi PIF, Newcastle have the richest backers in the world. The assumption at the time the Saudi fund bought a majority stake of the team in recent years was that it would bring a game-changing impact, similar to the former Chelsea owner had at Chelsea or the City Group had at Manchester City. The difference is that those two owners assumed control before the introduction of FFP regulations (and the ongoing allegations against City concern if they breached those guidelines after they were in place).
Financial restrictions restrict the capacity of owners, however rich, to invest funds on their squads and therefore probably would have slowed every Saudi attempt to elevate Newcastle to the standard of City. However there is no need for the club's expenditure to have been so restrained as it has been; they could have spent more and remained within the threshold – or simply taken a relatively meagre Uefa fine given their big problem is more with the continental than the Premier League rules.
Stadium Spending and PSR Regulations
Additionally, stadium development is exempted from PSR calculations; the simplest way to raise income to generate more PSR headroom would be to expand or renovate the stadium. Considering the site of St James’ Park, with protected structures on multiple sides, in reality that likely means constructing an entirely new stadium. There was talk in March of possibly making the nearby relocation to a local park – opposition from community organizations might have been overcome with a commitment to create a replacement green space on the existing ground location – 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 shifts focus on local investments; the attitude to the football club appears entirely in keeping with that strategic shift.
Player Sales Saga
The Alexander Isak saga was arose from that tension. A bolder leadership could have portrayed his sale as essential to free up funds for further spending; rather there was a unsuccessful effort to retain him. That meant the team started the campaign amidst a sense of disappointment despite the signings of Woltemade, Yoane Wissa, Jacob Ramsey, Malick Thiaw and Anthony Elanga. The opening was mixed: one win in their initial six fixtures.
But it seemed a corner was reached. They secured five in six before Sunday, a run that featured convincing wins of Union Saint-Gilloise and Benfica in the Champions League. That’s why the performance against West Ham was such a shock. The issue perhaps is that Newcastle’s style is extremely intense, very high-octane; a slight drop-off in energy can have profound effects. Maybe the strain of Premier League, European and cup matches, five games in 15 days, had got to them. The German forward started each of those games and appeared particularly weary.
The Nature of Modern Soccer
That’s the nature of modern football. Coaches must be prepared to make changes. Howe has been unlucky that the forward's fitness issue has left him short of forward choices but, no matter how reasonable the reasons, Sunday’s performance was inexcusable –particularly following taking the lead at a stadium primed to turn on its own side.
Howe will hope it was just a blip, an off-day when all players is below par simultaneously, but if Newcastle are to qualify for the Champions League next season, not to mention eventually mount an genuine title challenge, they must not be as inconsistent as they have been.