🔗 Share this article The Reasons Saudi Investment Hasn't Transformed Newcastle into Title Contenders The Newcastle manager isn't typically prone to dramatics or sweeping public statements. Based on his usual demeanor, his media briefing following the weekend's 3-1 defeat qualifies as a furious tirade. Newcastle took an early lead but West Ham took the lead by the interval, as well as hitting the post and having a penalty revoked by VAR, leading Howe to execute a triple change at the break. “The opening period was particularly irritating,” Howe said. “I almost could have taken anyone off and I think this indicated of our performance level in that moment during the match and it’s very, very rare for me to feel that way. In fact, I cannot recall I have during my tenure as manager of Newcastle, so I felt the team required some shaking up at the break. That’s why I did what I did.” Three key players were substituted at the interval and Newcastle managed to steady somewhat in the latter period, without ever appearing like they might fight back into the game against an opponent that had secured just a single victory of their last nine fixtures. Given how packed the centre of the standings currently is, with just three points 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, similarly, they must not end the campaign in 13th. The Problem of Perception The challenge to an extent is one of public view. In the Saudi Public Investment Fund, the club possess the wealthiest owners in the world. The assumption at the time the Saudi fund acquired 80% of the team in recent years was that it would have a transformative effect, as the former Chelsea owner had at Chelsea or Sheikh Mansour did at the Etihad. The difference is that those two investors took over prior to the advent of financial fair play rules (while the current charges against City relate to if they violated those regulations once they were implemented). Financial regulations limit the capacity of owners, however rich, to spend money on their teams and therefore likely would have slowed any Saudi effort to elevate the team to the level of City. However there is no need for Newcastle’s expenditure to have been quite as cautious as it has been; they could have spent more and remained within the limit – or simply taken a fairly minor European fine since their big issue is more with the continental than the domestic rules. Stadium Spending and PSR Regulations Besides which, infrastructure spending is excluded from Profit and Sustainability assessments; the simplest method to increase revenue to create more PSR flexibility would be to extend or renovate the arena. Considering the location of St James’ Park, with listed buildings on two sides, practically that probably implies building an entirely new stadium. Rumors circulated in March of possibly undertaking the nearby relocation to a local park – resistance from local groups might have been surmounted with a promise to create a new park on the existing ground location – but there has been any progress on that plan. There has occurred significant retrenchment from the PIF on a variety of projects as it shifts focus on domestic affairs; the attitude to Newcastle appears completely in alignment with that change of approach. The Alexander Isak Situation The star striker episode was born of that conflict. A bolder management could have portrayed his sale as necessary to release funds for further spending; rather there was a vain attempt to retain him. That meant the team started the campaign amidst a sense of disappointment even with the signings of Woltemade, Yoane Wissa, Jacob Ramsey, Malick Thiaw and Anthony Elanga. The start was mixed: a single victory in their first six games. But it appeared a turning point was reached. They secured five in six before Sunday, a run that featured convincing wins of a Belgian side and Benfica in the Champions League. This explains the performance against the Hammers was so surprising. The issue perhaps is that the team's approach is extremely intense, very high-octane; a minor decrease in energy can have significant effects. Maybe the strain of Premier League, Champions League and Carabao Cup competition, five games in a fortnight, had taken its toll. Woltemade featured in each of those matches and appeared particularly fatigued. The Nature of Modern Football That’s the nature of today's the sport. Coaches have to be ready to rotate. Howe has been unlucky that Wissa’s injury has left him lacking attacking options but, no matter how valid the reasons, Sunday’s performance was inexcusable –particularly following scoring first at a stadium primed to criticize its own side. Howe will hope it was just a blip, one of those days when everybody is off-colour at once, but if the Magpies are to qualify for the European competition next season, not to mention one day mount an genuine championship bid, they cannot be as unreliable as they have been.