The Reasons Middle Eastern Money Hasn't Turned Newcastle into Title Challengers

The Newcastle manager isn't typically given to dramatics or grand public statements. Based on his standards, his media briefing following Sunday’s 3-1 defeat counts as a furious tirade. His side scored first but the opposition were ahead by half-time, while also striking the woodwork and having a penalty overturned by VAR, prompting Howe to make a three substitutions at the break.

“The opening period was particularly irritating,” Howe said. “I almost could have taken anyone off and I think that was a reflection of where we were at that stage in the game and it’s very, very rare for me to feel that way. In fact, I don’t think having done so 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 those decisions.”

Three key players were substituted at half-time and the team did stabilise to an extent in the latter period, without ever really looking like they might fight back into the contest against a side that had secured just a single victory of their last nine league matches. Considering how packed the centre of the table is, with just three points dividing third from 11th, and nine points between the upper and lower ranks, a run of 12 points from 10 games has not left Newcastle stranded but, equally, they cannot end the campaign in 13th.

The Issue of Expectations

The problem to an extent is one of public view. In the Saudi Public Investment Fund, Newcastle possess the richest backers in the world. The expectation at the time the Saudi fund acquired a majority stake of the team in recent years was that it would bring a game-changing impact, similar to Roman Abramovich had at Chelsea or the City Group did at the Etihad. The distinction is that both of those owners assumed control before the advent of FFP rules (while the ongoing charges against Manchester City concern whether they violated those guidelines after they were in place).

Financial regulations restrict the ability of owners, however rich, to spend money on their teams and so in that sense probably might have slowed every Middle Eastern attempt to elevate the team to the standard of Manchester City. But there is no need for the club's spending to have been so restrained as it has been; they could have spent more and remained within the threshold – or just accepted a fairly minor European fine given their big problem is primarily with the continental than the Premier League rules.

Infrastructure Spending and PSR Rules

Additionally, infrastructure spending is excluded from PSR assessments; the simplest way to raise income to create additional PSR headroom would be to expand or redevelop the arena. Given the location of St James’ Park, with listed buildings on two sides, in reality that probably means constructing an completely new venue. Rumors circulated in March of potentially undertaking the nearby relocation to a local park – resistance from local groups might have been surmounted with a promise to create a replacement green space on the existing ground location – but there has not been no movement on that proposal. There has been substantial retrenchment from the PIF on a range of initiatives as it shifts focus on domestic affairs; the approach to Newcastle seems completely in alignment with that strategic shift.

Player Sales Situation

The Alexander Isak saga was arose from that conflict. A more confident management could have portrayed his transfer as essential to free up capital for further spending; instead there was a vain effort to keep him. This resulted in Newcastle began the season amid a feeling of disappointment even with the signings of several new players. The start was indifferent: one win in their first six fixtures.

But it appeared a turning point was reached. They had won five in six before Sunday, a streak that featured convincing wins of Union Saint-Gilloise and Benfica in the European competition. That’s why the display against West Ham was such a shock. The issue maybe is that the team's approach is very aggressive, very high-octane; a minor decrease in intensity can have significant effects. Perhaps the strain of Premier League, Champions League and cup competition, five fixtures in 15 days, had taken its toll. Woltemade featured in all five matches and appeared especially fatigued.

Reality of Modern Football

That’s the nature of modern football. Managers have to be prepared to rotate. Howe has been unlucky that Wissa’s fitness issue has left him short of forward choices but, no matter how reasonable the reasons, the weekend's performance was unacceptable –particularly after taking the lead at a ground primed to criticize its own side.

Howe will hope it was just a blip, one of those days when all players is below par simultaneously, 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.