Why Middle Eastern Investment Has Not Turned Newcastle into Title Challengers

The Newcastle manager is not given to dramatics or grand public statements. Based on his usual demeanor, his press conference after the weekend's loss to West Ham counts as a angry outburst. His side scored first but the opposition were ahead by the interval, while also striking the woodwork and seeing a spot-kick overturned by VAR, leading Howe to execute a triple change at the half-time.

“The opening period was particularly irritating,” Howe said. “I almost could have taken anyone off and I believe this indicated of our performance level in that moment during the match and it's extremely uncommon for me to feel that way. In fact, I don’t think I have during my tenure as head coach of Newcastle, therefore I believed the team needed a significant change at half-time. That’s why I made those decisions.”

Three key players all came off at half-time and Newcastle managed to steady to an extent in the latter period, but never appearing like they might fight back into the contest against an opponent that had secured just a single victory of their last nine fixtures. Given the congestion the centre of the table currently is, with just three points dividing third from 11th, and nine points between the upper and lower ranks, a run of 12 points from ten matches has not placed Newcastle adrift but, similarly, they cannot end the campaign in 13th.

The Issue of Expectations

The challenge to an extent is one of public view. In the Saudi Public Investment Fund, the club have the richest owners in the world. The expectation at the time the Saudi fund bought 80% of the club in recent years was that it would bring a game-changing impact, as Roman Abramovich had at Chelsea or Sheikh Mansour had at Manchester City. The difference is that both of those investors took over prior to the advent of FFP regulations (and the current charges against City relate to if they breached those regulations after they were in place).

Financial regulations limit the capacity of proprietors, however rich, to invest funds on their squads and therefore probably would have hindered every Saudi attempt to raise the team to the level of Manchester City. However there is no need for the club's expenditure to have been quite as cautious as it has been; they might have invested further and remained within the limit – or just accepted a fairly minor Uefa penalty since their major problem is more with the continental than the domestic regulation.

Infrastructure Spending and Financial Regulations

Additionally, infrastructure spending is excluded from Profit and Sustainability assessments; the simplest method to increase revenue to create additional PSR flexibility would be to extend or renovate the stadium. Given the location of the home ground, with listed buildings on multiple sides, in reality that probably means constructing an completely new stadium. Rumors circulated in spring of possibly undertaking the short move to Leazes Park – resistance from local groups could surely have been overcome with a promise to build a replacement green space on the current stadium site – but there has not been any progress on that plan. There has occurred substantial cutbacks from the Saudi fund on a range of projects as it shifts focus on local investments; the attitude to Newcastle seems completely in alignment with that strategic shift.

The Alexander Isak Saga

The Alexander Isak episode was born of that tension. A more confident leadership might have framed his transfer as necessary to release capital for further investment; rather there was a vain effort to keep him. That meant Newcastle started the campaign amid a feeling of disappointment despite the signings of Woltemade, Yoane Wissa, Jacob Ramsey, Malick Thiaw and Anthony Elanga. The opening was indifferent: a single victory in their first six fixtures.

But it appeared a corner had been turned. They secured five victories in six matches before Sunday, a streak that included convincing wins of Union Saint-Gilloise and Benfica in the Champions League. This explains the performance against West Ham was so surprising. The problem maybe is that the team's style is very aggressive, high-energy; a slight drop-off in intensity can have significant effects. Maybe the pressure of Premier League, Champions League and Carabao Cup matches, five games in 15 days, had got to them. Woltemade started all five matches and appeared especially weary.

Reality of Modern Football

That’s the nature of today's the sport. Managers must be prepared to rotate. The manager has been unfortunate that the forward's fitness issue has meant he is short of attacking options but, no matter how reasonable the reasons, the weekend's showing was inexcusable –particularly following scoring first at a ground ready to criticize its home team.

The Newcastle boss will wish it was just a blip, an off-day when all players is off-colour at once, but if Newcastle are to secure 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.

Ricardo Lloyd
Ricardo Lloyd

A passionate gamer and tech writer with over a decade of experience in the gaming industry, specializing in indie games and console reviews.