Why Middle Eastern Money Hasn't Turned Newcastle into Title Challengers
Eddie Howe isn't typically prone to histrionics or grand media statements. So by his standards, his media briefing after the weekend's 3-1 defeat counts as a furious outburst. Newcastle scored first but West Ham were ahead by the interval, as well as striking the woodwork and seeing a spot-kick revoked by VAR, leading Howe to execute a triple change at the break.
“That was the frustrating thing about the first half,” the coach said. “I almost could have taken anyone off and I believe this indicated of where we were at that stage in the game and it's extremely uncommon for me to feel that way. Actually, I cannot recall having done so since I’ve been head coach of the club, so I felt the squad required a significant change at half-time. This explains why I did those decisions.”
Three key players were substituted at the interval and the team did stabilise somewhat in the latter period, but never really looking like they could get back into the contest against a side that had secured just a single victory of their previous nine fixtures. Considering how packed 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 stranded but, similarly, they cannot finish the season in thirteenth place.
The Issue of Expectations
The problem partially is one of public view. In the Saudi Public Investment Fund, the club have the richest backers in the world. The expectation at the time the PIF bought 80% of the team in recent years was that it would have a transformative effect, as Roman Abramovich had at Chelsea or the City Group did at the Etihad. The difference is that those two investors assumed control before the introduction of FFP regulations (while the ongoing charges against City concern whether they breached those guidelines once they were in place).
Profit and sustainability regulations restrict the ability of owners, however rich, to invest funds on their squads and therefore probably might have slowed every Middle Eastern attempt to elevate Newcastle to the standard of City. However there is no need for the club's spending to have been quite as cautious as it has been; they might have spent more and stayed inside the threshold – or just accepted a fairly minor European fine since their major problem is more with the continental than the domestic rules.
Stadium Spending and Financial Regulations
Additionally, infrastructure spending is excluded from Profit and Sustainability assessments; the easiest method to increase revenue to generate more financial headroom would be to extend or redevelop the arena. Given the site of the home ground, with protected structures on two sides, practically that likely implies constructing an entirely new venue. Rumors circulated in March of possibly undertaking the short move to Leazes Park – opposition from community organizations might have been overcome with a promise to create a replacement green space on the current ground location – but there has been no movement on that plan. There has been substantial cutbacks from the PIF on a range of initiatives as it shifts focus on domestic affairs; the approach to the football club seems entirely in alignment with that strategic shift.
The Alexander Isak Situation
The Alexander Isak episode was born of that conflict. A more confident management might have framed his transfer as necessary to free up capital for further investment; instead there was a vain effort to keep him. This resulted in Newcastle started the campaign amid a feeling of frustration despite the acquisitions of several new players. The start was mixed: one win in their first six games.
But it appeared a corner had been turned. They had won five in six prior to the weekend, a streak that included demolitions of Union Saint-Gilloise and a Portuguese club in the European competition. This explains the performance against the Hammers was such a shock. The problem maybe is that Newcastle’s approach is very aggressive, high-energy; a minor decrease in energy can have profound consequences. Maybe the strain of Premier League, European and Carabao Cup matches, five games in a fortnight, had got to them. The German forward started each of those games and looked especially fatigued.
Reality of Modern Football
This is the reality of modern football. Managers must be ready to make changes. The manager has been unlucky that Wissa’s fitness issue has left him lacking attacking options but, regardless of how valid the explanations, Sunday’s showing was inexcusable –especially after scoring first at a stadium ready to criticize its home team.
Howe will wish it was just a blip, an off-day when all players is below par simultaneously, but if the Magpies are to qualify for the Champions League in the future, not to mention eventually launch an actual championship bid, they cannot be as inconsistent as this.