The Reasons Saudi Investment Has Not Turned The Magpies into Title Challengers

The Newcastle manager isn't typically prone to histrionics or sweeping public pronouncements. Based on his standards, his press conference following the weekend's loss to West Ham counts as a angry tirade. Newcastle scored first but the opposition were ahead by the interval, while also striking the woodwork and having a penalty revoked by VAR, leading 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 believe this indicated of where we were in that moment during the match and it's extremely uncommon for me to have that impression. In fact, I cannot recall I have during my tenure as manager of the club, so I felt the squad needed some shaking up at the break. That’s why I made those decisions.”

Anthony Gordon, Nick Woltemade and Emil Krafth were substituted at half-time and the team managed to steady somewhat in the latter period, but never appearing 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 standings is, with just three points separating third from 11th, and nine points between second and 17th, a run of 12 points from 10 games has not left Newcastle stranded but, equally, they must not end the campaign in thirteenth place.

The Problem of Perception

The problem partially is one of perception. With the Saudi PIF, the club have the richest owners in the world. The assumption at the time the PIF acquired a majority stake of the team in 2021 was that it would have a game-changing impact, similar to Roman Abramovich had at Chelsea or the City Group had at Manchester City. The distinction is that those two investors took over prior to the advent of financial fair play regulations (while the current charges against City relate to whether they breached those guidelines once they were in place).

Financial restrictions restrict the capacity of owners, however rich, to invest funds on their squads and so in that sense likely would have slowed every Middle Eastern attempt to raise the team to the standard of Manchester City. However there is no need for the club's expenditure to have been so restrained as it has; they could have invested further and remained within the limit – or just accepted a fairly minor Uefa penalty given their major problem is primarily with the continental than the domestic rules.

Infrastructure Investment and PSR Regulations

Additionally, stadium development is exempted from Profit and Sustainability calculations; the easiest method to raise income to generate more PSR headroom would be to extend or renovate the stadium. Considering the site of the home ground, with listed buildings on multiple sides, in reality that probably means constructing an completely new venue. Rumors circulated in spring of potentially making the nearby relocation to Leazes Park – opposition from community organizations could surely have been surmounted with a promise to create a replacement green space on the existing ground location – but there has been any progress on that proposal. There has been substantial cutbacks from the Saudi fund on a range of projects as it shifts focus on domestic affairs; the attitude to Newcastle seems entirely in alignment with that change of approach.

The Alexander Isak Situation

The Alexander Isak episode was arose from that conflict. A bolder management could have framed his transfer as essential to free up funds for additional investment; rather there was a unsuccessful effort to keep him. This resulted in the team began the season amidst a sense of frustration even with the signings of several new players. The opening was indifferent: one win in their first six fixtures.

Yet it appeared a turning point was reached. They secured five victories in six matches before the weekend, a run that featured demolitions of a Belgian side and a Portuguese club in the European competition. This explains the performance against West Ham was so surprising. The problem maybe is that Newcastle’s style is extremely intense, high-energy; a slight drop-off in intensity can have significant consequences. Maybe the strain of Premier League, European and cup competition, five fixtures in 15 days, had got to them. The German forward started each of those matches and appeared particularly weary.

The Nature of Contemporary Soccer

This is the nature of today's football. Managers must be prepared to rotate. Howe has been unlucky that the forward's fitness issue has left him short of forward choices but, no matter how reasonable the explanations, the weekend's showing was unacceptable –particularly following scoring first at a ground ready to criticize its own side.

Howe will wish it was just a blip, an off-day when all players is below par at once, but if the Magpies are to qualify for the European competition in the future, not to mention one day launch an genuine championship bid, they must not be as inconsistent as they have been.

Kristina Hall
Kristina Hall

Award-winning journalist with a focus on urban affairs and community stories in Southern California.