The Reasons Saudi Money Has Not Transformed Newcastle into Title Contenders
The Newcastle manager is not prone to dramatics or grand public statements. So by his standards, his media briefing after Sunday’s 3-1 defeat qualifies as a furious tirade. Newcastle took an early lead but the opposition took the lead by half-time, while also hitting the post and seeing a spot-kick revoked by VAR, leading Howe to make a triple change at the half-time.
“That was the frustrating thing about the first half,” Howe stated. “I almost could have taken anyone off and I think that was a reflection of our performance level at that stage during the match and it's extremely uncommon for me to have that impression. Actually, I cannot recall having done so during my tenure as manager of Newcastle, so I felt the squad required a significant change at the break. That’s why I made what I did.”
Three key players all came off at half-time and the team did stabilise somewhat in the latter period, but never really looking like they could fight back into the contest against an opponent that had secured just a single victory of their previous nine league matches. Given the congestion the middle of the standings currently is, with a mere three-point gap dividing third from 11th, and a nine-point margin between the upper and lower ranks, a run of 12 points from 10 games has not left the Magpies adrift but, similarly, they cannot end the campaign in thirteenth place.
The Problem of Perception
The problem partially is one of public view. With the Saudi PIF, Newcastle have the richest owners in the world. The assumption at the time the PIF bought a majority stake of the team in recent years was that it would have a game-changing impact, as the former Chelsea owner had at Chelsea or the City Group did at the Etihad. The difference is that both of those owners took over before the advent of FFP regulations (and the ongoing allegations against Manchester City concern if they violated those regulations once they were in place).
Profit and sustainability regulations restrict the capacity of proprietors, however rich, to invest funds on their squads and so in that sense likely would have slowed any Saudi attempt to elevate the team to the standard of Manchester City. But it wasn't necessary for Newcastle’s expenditure to have been quite as cautious as it has been; they might have spent more and remained within the threshold – or simply taken a fairly minor European fine given their major problem is more with the European than the domestic regulation.
Stadium Spending and PSR Regulations
Additionally, stadium development is excluded from Profit and Sustainability assessments; the simplest way to increase revenue to create more PSR flexibility would be to expand or redevelop the stadium. Considering the site of St James’ Park, with protected structures on two sides, in reality that probably means building an entirely new venue. There was talk in spring of potentially making the short move to Leazes Park – opposition from local groups might have been surmounted with a commitment to build a replacement green space on the existing ground location – but there has been no movement on that plan. There has occurred substantial retrenchment from the Saudi fund on a variety of projects as it refocuses on domestic affairs; the attitude to the football club seems entirely in alignment with that strategic shift.
Player Sales Saga
The star striker saga was born of that tension. A bolder management might have framed his sale as essential to release funds for further spending; rather there was a vain attempt to retain him. This resulted in the team started the campaign amid a feeling of disappointment even with the signings of Woltemade, Yoane Wissa, Jacob Ramsey, Malick Thiaw and Anthony Elanga. The start was indifferent: one win in their first six fixtures.
Yet it appeared a turning point was reached. They secured five in six before Sunday, a streak that included convincing wins of a Belgian side and Benfica in the European competition. This explains the performance against West Ham was such a shock. The issue maybe is that Newcastle’s style is very aggressive, high-energy; a minor decrease in energy can have profound consequences. Maybe the strain of domestic, European and cup matches, five fixtures in a fortnight, had taken its toll. Woltemade started all five games and appeared particularly fatigued.
Reality of Contemporary Football
That’s the reality of modern football. Coaches have to be ready to rotate. The manager has been unlucky that the forward's injury has meant he is lacking forward choices but, regardless of how valid the explanations, the weekend's performance was inexcusable –especially following scoring first at a ground primed to turn on its own side.
Howe will hope it was just a blip, one of those days when all players is below par at once, but if the Magpies are to secure the Champions League next season, let alone one day mount an actual championship bid, they cannot be as unreliable as this.