The Reasons Saudi Investment Hasn't Turned Newcastle into Championship Contenders
The Newcastle manager is not prone to dramatics or grand media statements. Based on his usual demeanor, his press conference after Sunday’s 3-1 defeat counts as a angry tirade. His side scored first but West Ham took the lead by half-time, while also striking the woodwork and seeing a spot-kick revoked by VAR, prompting Howe to make a three substitutions at the break.
“That was the frustrating thing about the first half,” the coach said. “Virtually any player could have been substituted and I think that was a reflection of our performance level at that stage in the game and it’s very, very rare for me to have that impression. In fact, I don’t think I have since I’ve been head coach of the club, therefore I believed the team required some shaking up at half-time. This explains why I did those decisions.”
Anthony Gordon, Nick Woltemade and Emil Krafth were substituted at the interval and Newcastle managed to steady to an extent in the latter period, but never appearing like they could get back into the game against an opponent that had won only one of their previous nine league matches. Given the congestion the middle of the standings currently is, with a mere three-point gap separating the top spots from mid-table, and a nine-point margin between the upper and lower ranks, a sequence of 12 points from 10 games has not placed Newcastle stranded but, similarly, they must not finish the season in 13th.
The Issue of Expectations
The problem to an extent is one of public view. In the Saudi Public Investment Fund, Newcastle have the wealthiest backers in the world. The assumption at the time the PIF bought a majority stake of the team in recent years was that it would have a game-changing impact, similar to Roman Abramovich achieved at Stamford Bridge or the City Group had at Manchester City. The difference is that those two owners took over before the advent of financial fair play regulations (while the ongoing allegations against City concern if they violated those regulations once they were implemented).
Financial restrictions limit the ability of owners, however rich, to invest funds on their teams and therefore probably might have hindered every Saudi effort to raise the team to the level of Manchester City. But there is no need for Newcastle’s expenditure to have been so restrained as it has been; they might have spent more and stayed inside the limit – or simply taken a relatively meagre Uefa fine since their major issue is primarily with the continental than the Premier League rules.
Stadium Investment and PSR Regulations
Besides which, infrastructure spending is excluded from Profit and Sustainability calculations; the easiest method to raise income to generate more PSR flexibility would be to extend or redevelop the stadium. Considering the site of St James’ Park, with listed buildings on multiple sides, practically that probably implies building an entirely new venue. There was talk in March of possibly undertaking the nearby relocation to Leazes Park – resistance from local groups might have been surmounted with a promise to create a new park on the current ground location – but there has not been any progress on that plan. There has been significant retrenchment from the Saudi fund on a variety of projects as it refocuses on local investments; the attitude to the football club seems completely in alignment with that change of approach.
Player Sales Situation
The Alexander Isak saga was born of that conflict. A bolder management might have portrayed his transfer as essential to release funds for further spending; rather there was a unsuccessful attempt to retain him. That meant Newcastle started the campaign amid a sense of disappointment even with the signings of several new players. The start was indifferent: one win in their initial six games.
Yet it appeared a corner had been turned. They secured five in six prior to the weekend, a run that included demolitions of a Belgian side and a Portuguese club in the Champions League. This explains the performance against West Ham was such a shock. The problem maybe is that Newcastle’s approach is extremely intense, very high-octane; a slight drop-off in intensity can have profound consequences. Perhaps the pressure of Premier League, Champions League and Carabao Cup competition, five games in a fortnight, had taken its toll. Woltemade featured in each of those games and appeared especially weary.
Reality of Modern Soccer
That’s the nature of today's football. Managers must be ready to make changes. Howe has been unfortunate that Wissa’s injury has left him short of attacking options but, regardless of how valid the explanations, the weekend's showing was inexcusable –particularly following scoring first at a ground ready to turn on its home team.
Howe will hope it was just a blip, an off-day when everybody is off-colour simultaneously, but if the Magpies are to secure the Champions League in the future, let alone one day launch an genuine championship bid, they cannot be as inconsistent as they have been.