Why Middle Eastern Investment Has Not Transformed The Magpies into Title Challengers

The Newcastle manager isn't typically given to dramatics or sweeping media pronouncements. Based on his standards, his media briefing following the weekend's loss to West Ham qualifies as a furious outburst. His side took an early lead but the opposition were ahead by half-time, as well as hitting the post and seeing a spot-kick revoked by VAR, leading Howe to make a three substitutions at the half-time.

“That was the frustrating thing about the first half,” Howe said. “I almost could have taken anyone off and I think that was a reflection of where we were at that stage during the match and it's extremely uncommon for me to have that impression. Actually, I don’t think I have during my tenure as manager of the club, therefore I believed the team needed a significant change at the break. This explains why I made what I did.”

Three key players were substituted at half-time and Newcastle managed to steady somewhat in the latter period, without ever really looking like they might get back into the game against a side that had secured just a single victory of their previous nine league matches. Considering how packed the middle of the standings is, with a mere three-point gap dividing the top spots from mid-table, and nine points between the upper and lower ranks, a sequence of twelve points from 10 games has not left the Magpies adrift but, similarly, they must not finish the season in 13th.

The Problem of Perception

The challenge to an extent is one of public view. With the Saudi PIF, Newcastle possess the richest backers in the world. The expectation when the Saudi fund acquired a majority stake of the club in 2021 was that it would have a game-changing impact, as Roman Abramovich achieved at Stamford Bridge or the City Group did at the Etihad. The difference is that both of those investors took over prior to the introduction of FFP regulations (and the ongoing charges against City concern whether they breached those guidelines once they were in place).

Financial regulations limit the ability of proprietors, no matter how wealthy, to invest funds on their teams and therefore probably might have slowed any Middle Eastern attempt to elevate the team to the level of Manchester City. But it wasn't necessary for Newcastle’s spending to have been so restrained as it has; they might have spent more and remained within the threshold – or simply taken a relatively meagre Uefa penalty given their major problem is primarily with the continental than the Premier League rules.

Stadium Investment and Financial Regulations

Besides which, infrastructure spending is excluded from PSR assessments; the easiest method to raise income to generate more PSR flexibility would be to expand or renovate the arena. Given the site of St James’ Park, with protected structures on multiple sides, practically that probably implies constructing an entirely new stadium. There was talk in March of potentially making the short move to a local park – opposition from local groups might have been surmounted 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 occurred substantial retrenchment from the Saudi fund on a range of projects as it shifts focus on local investments; the attitude to Newcastle seems completely in keeping with that change of approach.

Player Sales Saga

The star striker episode was born of that tension. A bolder management might have portrayed his sale as essential to free up funds for further spending; rather there was a unsuccessful attempt to keep him. That meant the team began the season amid a feeling of disappointment despite the acquisitions of Woltemade, Yoane Wissa, Jacob Ramsey, Malick Thiaw and Anthony Elanga. The start was mixed: a single victory in their initial six games.

But it appeared a turning point was reached. They secured five in six prior to Sunday, a streak that featured demolitions of a Belgian side and a Portuguese club in the European competition. That’s why the display against the Hammers was such a shock. The problem maybe is that the team's style is very aggressive, high-energy; a slight drop-off in intensity can have significant consequences. Maybe the pressure of domestic, Champions League and Carabao Cup matches, five games in 15 days, had taken its toll. The German forward started all five matches and looked particularly fatigued.

Reality of Modern Football

That’s the reality of modern football. Coaches must be ready to make changes. Howe has been unfortunate that the forward's fitness issue has meant he is lacking forward choices but, no matter how valid the reasons, the weekend's performance was unacceptable –particularly after taking the lead at a stadium primed to criticize its own side.

Howe will wish it was merely a temporary setback, an off-day when all players is below par simultaneously, but if the Magpies are to qualify for the European competition next season, let alone one day mount an actual title challenge, they must not be as unreliable as they have been.

Carla Hodges
Carla Hodges

Lena is a digital content creator with over five years of experience in live streaming and community building.