Why Saudi Money Hasn't Turned Newcastle into Title Challengers

Eddie Howe isn't typically prone to dramatics or grand public statements. So by his standards, his media briefing after Sunday’s loss to West Ham qualifies as a furious outburst. His side scored first but West Ham 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 half-time.

“The opening period was particularly irritating,” Howe said. “Virtually any player could have been substituted and I think that was a reflection of our performance level in that moment during the match and it's extremely uncommon for me to have that impression. Actually, I don’t think having done so since I’ve been head coach of Newcastle, therefore I believed the squad required a significant change at the break. This explains why I made what I did.”

Anthony Gordon, Nick Woltemade and Emil Krafth were substituted at half-time and the team did stabilise to an extent in the second half, but never appearing like they might fight back into the game against an opponent that had won only one of their last nine league matches. Considering the congestion the centre of the standings is, with a mere three-point gap separating third from 11th, and nine points between second and 17th, a sequence of 12 points from 10 games has not left Newcastle adrift but, equally, they must not finish the season in 13th.

The Issue of Perception

The problem to an extent is one of perception. In the Saudi Public Investment Fund, Newcastle possess the wealthiest owners in the globe. The assumption when the Saudi fund bought a majority stake of the team in recent years was that it would bring a transformative effect, as the former Chelsea owner achieved at Stamford Bridge or the City Group did at the Etihad. The distinction is that those two investors took over prior to the introduction of financial fair play regulations (while the current charges against Manchester City relate to whether they breached those regulations once they were implemented).

Financial regulations limit the capacity of owners, however rich, to invest funds on their teams and so in that sense likely might have hindered any Saudi effort to elevate Newcastle to the level of Manchester City. However there is no need for Newcastle’s expenditure to have been so restrained as it has; they might have invested further and stayed inside the limit – or simply taken a fairly minor European fine since their major problem is primarily with the continental than the domestic rules.

Stadium Investment and Financial Rules

Besides which, infrastructure spending is exempted from PSR calculations; the easiest way to increase revenue to create additional financial flexibility would be to extend or renovate the stadium. Given the site of St James’ Park, with listed buildings on multiple sides, practically that likely means constructing an completely new venue. Rumors circulated in March of potentially undertaking the nearby relocation to Leazes Park – opposition from community organizations might have been overcome with a commitment to create a replacement green space on the existing stadium site – but there has not been any progress on that proposal. There has been substantial cutbacks from the PIF on a variety of initiatives as it refocuses on domestic affairs; the approach to the football club appears entirely in keeping with that change of approach.

Player Sales Situation

The star striker episode was arose from that tension. A more confident leadership could have framed his transfer as essential to release funds for further spending; instead there was a vain effort to retain him. This resulted in the team began the season amid a feeling of disappointment even with the signings of several new players. The opening was indifferent: one win in their initial six games.

Yet it seemed a corner had been turned. They secured five in six before Sunday, a run that included convincing wins of a Belgian side and a Portuguese club in the European competition. That’s why the performance against West Ham was such a shock. The problem perhaps is that the team's style is very aggressive, high-energy; a slight drop-off in intensity can have significant consequences. Maybe the strain of Premier League, European and Carabao Cup matches, five games in 15 days, had got to them. Woltemade started each of those games and looked especially weary.

The Nature of Modern Football

That’s the nature of modern football. Managers have to be prepared to make changes. The manager has been unlucky that Wissa’s fitness issue has meant he is short of forward choices but, no matter how valid the explanations, the weekend's showing was unacceptable –particularly after scoring first at a ground primed to turn on its home team.

The Newcastle boss will hope it was just a blip, one of those days when all players is below par at once, but if Newcastle are to qualify for the Champions League in the future, let alone eventually mount an genuine championship bid, they cannot be as unreliable as this.

Alexander Montes
Alexander Montes

A passionate gamer and tech writer with over a decade of experience in the esports industry, sharing insights and strategies.