Why Saudi Money Hasn't Turned Newcastle into Championship Challengers

Eddie Howe is not prone to histrionics or sweeping public statements. So by his standards, his media briefing after Sunday’s 3-1 defeat qualifies as a furious outburst. His side scored first but the opposition took the lead by the interval, while also striking the woodwork and seeing a spot-kick overturned by VAR, prompting Howe to execute a triple change at the break.

“That was the frustrating thing about the first half,” the coach stated. “Virtually any player could have been substituted 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 feel that way. In fact, I cannot recall I have during my tenure as head coach of the club, so I felt the team needed some shaking up at half-time. This explains why I did what I did.”

Three key players all came off at the interval and the team did stabilise to an extent in the second half, without ever appearing like they might get back into the contest against an opponent that had secured just a single victory of their last nine league matches. Considering the congestion the middle of the table is, with a mere three-point gap separating third from 11th, and nine points between the upper and lower ranks, a run of 12 points from 10 games has not left the Magpies stranded but, similarly, they must not end the campaign in 13th.

The Problem of Perception

The problem partially is one of perception. With the Saudi PIF, Newcastle have the wealthiest owners in the globe. The expectation at the time the PIF acquired a majority stake of the team in recent years was that it would have a transformative effect, as the former Chelsea owner achieved at Stamford Bridge or the City Group had at Manchester City. The difference is that those two owners took over prior to the introduction of FFP rules (while the current allegations against City relate to whether they breached those guidelines after they were in place).

Profit and sustainability regulations restrict the capacity of owners, however rich, to invest funds on their teams and therefore likely would have slowed any Middle Eastern effort to raise Newcastle 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 could have invested further and remained within the limit – or just accepted a relatively meagre Uefa fine given their big problem is more with the continental than the domestic rules.

Stadium Investment and Financial Rules

Besides which, infrastructure spending is exempted from PSR assessments; the simplest way to increase revenue to generate additional PSR headroom would be to extend or redevelop the stadium. Given the location of the home ground, with protected structures on two sides, practically that likely implies building an entirely new venue. Rumors circulated in March of possibly undertaking the short move to a local park – resistance from community organizations could surely have been surmounted with a promise to create a replacement green space on the current stadium site – but there has not been any progress on that plan. There has been substantial retrenchment from the Saudi fund on a variety of initiatives as it shifts focus on domestic affairs; the attitude to the football club appears entirely in keeping with that change of approach.

The Alexander Isak Saga

The star striker episode was arose from that tension. A bolder leadership might have framed his transfer as essential to free up capital for additional investment; rather there was a vain effort to keep him. That meant Newcastle began the season amidst a feeling of frustration despite the signings of Woltemade, Yoane Wissa, Jacob Ramsey, Malick Thiaw and Anthony Elanga. The start was mixed: one win in their first six fixtures.

But it seemed a turning point was reached. They secured five in six prior to the weekend, a streak that included demolitions of a Belgian side and Benfica in the European competition. This explains the performance against West Ham 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 consequences. Perhaps the strain of domestic, European and Carabao Cup competition, five games in 15 days, had taken its toll. Woltemade featured in all five games and appeared particularly fatigued.

Reality of Modern Soccer

This is the nature of today's football. Coaches have to be prepared to make changes. Howe has been unlucky that the forward's injury has left him lacking attacking options but, no matter how valid the reasons, the weekend's showing was unacceptable –especially after taking the lead at a ground ready to turn on its home team.

The Newcastle boss will wish it was just a blip, an off-day when all players is below par at once, but if Newcastle are to qualify for the European competition in the future, let alone one day mount an genuine championship bid, they cannot be as unreliable as this.

Timothy Davis
Timothy Davis

An avid hiker and nature writer, Elara shares trail guides and eco-friendly travel insights to inspire outdoor exploration.