The Reasons Saudi Investment Hasn't Transformed The Magpies into Title Challengers

The Newcastle manager isn't typically prone to dramatics or grand public statements. Based on his standards, his media briefing following the weekend's 3-1 defeat counts as a furious tirade. His side scored first but the opposition took the lead by half-time, while also striking the woodwork and having a penalty revoked by VAR, leading Howe to execute a triple change at the break.

“That was the frustrating thing about the first half,” Howe stated. “Virtually any player could have been substituted and I think that was a reflection of where we were in that moment in the game and it’s very, very rare for me to have that impression. Actually, I don’t think I have since I’ve been manager of the club, therefore I believed the team required some shaking up at the break. That’s why I made those decisions.”

Three key players were substituted at the interval and the team did stabilise to an extent in the latter period, without ever appearing like they might get back into the game against an opponent that had secured just a single victory of their last nine league matches. Considering the congestion the middle of the table currently is, with a mere three-point gap dividing third from 11th, and a nine-point margin between the upper and lower ranks, a sequence of 12 points from 10 games has not left Newcastle adrift but, equally, they cannot finish the season in 13th.

The Issue of Expectations

The problem to an extent is one of public view. In the Saudi Public Investment Fund, the club possess the wealthiest owners in the globe. The assumption when the PIF acquired a majority stake of the team in 2021 was that it would bring a transformative effect, as Roman Abramovich had at Chelsea or Sheikh Mansour did at the Etihad. The difference is that those two owners took over before the advent of FFP rules (and the ongoing charges against City concern if they breached those regulations after they were in place).

Profit and sustainability regulations restrict the capacity of proprietors, no matter how wealthy, to spend money on their squads and so in that sense likely would have hindered any Middle Eastern effort to elevate Newcastle to the standard of Manchester City. However it wasn't necessary for the club's spending to have been quite as cautious as it has; they could have spent more and stayed inside the threshold – or simply taken a relatively meagre Uefa penalty given their big issue is primarily with the continental than the Premier League rules.

Stadium Spending and Financial Rules

Besides which, infrastructure spending is exempted from PSR calculations; the simplest way to raise income to generate additional financial flexibility would be to extend or renovate the stadium. Considering the location of the home ground, with protected structures on multiple sides, in reality that probably means building an entirely new stadium. Rumors circulated in March of potentially undertaking the short move to a local park – opposition from community organizations might have been surmounted with a commitment to build a replacement green space on the current stadium site – but there has been any progress on that proposal. There has occurred substantial retrenchment from the Saudi fund on a variety of initiatives as it refocuses on local investments; the attitude to Newcastle seems completely in keeping with that change of approach.

The Alexander Isak Saga

The star striker episode was born of that conflict. A more confident management might have framed his sale as necessary to free up capital for further investment; rather there was a vain effort to keep him. This resulted in Newcastle started the campaign amid a sense of disappointment despite the acquisitions of Woltemade, Yoane Wissa, Jacob Ramsey, Malick Thiaw and Anthony Elanga. The opening was indifferent: one win in their first six games.

Yet it appeared a corner was reached. They secured five victories in six matches before the weekend, a streak that included demolitions of Union Saint-Gilloise and a Portuguese club in the European competition. That’s why the display against West Ham was such a shock. The issue maybe is that Newcastle’s style is extremely intense, very high-octane; a minor decrease in intensity can have profound effects. Perhaps the strain of domestic, Champions League and cup competition, five games in 15 days, had got to them. Woltemade featured in each of those matches and looked particularly fatigued.

The Nature of Contemporary Football

That’s the reality of modern football. Managers must be ready to rotate. The manager has been unfortunate that the forward's injury has meant he is lacking forward choices but, regardless of how valid the reasons, Sunday’s showing was unacceptable –especially following taking the lead at a ground primed to turn on its own side.

Howe will wish it was just a blip, an off-day when everybody is off-colour at once, but if the Magpies are to qualify for the European competition in the future, let alone one day mount an actual title challenge, they cannot be as inconsistent as this.

Suzanne Russell
Suzanne Russell

A passionate writer and storyteller with over a decade of experience in crafting engaging narratives and mentoring aspiring authors.