🔗 Share this article The Reasons Saudi Money Hasn't Turned Newcastle into Title Challengers Eddie Howe is not given to dramatics or grand media pronouncements. So by his standards, his media briefing after the weekend's 3-1 defeat counts as a angry outburst. Newcastle took an early lead but the opposition took the lead by the interval, as well as striking the woodwork and seeing a spot-kick revoked by VAR, prompting Howe to execute a triple change at the half-time. “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 in that moment in the game and it's extremely uncommon for me to feel that way. In fact, I cannot recall having done so during my tenure as head coach of Newcastle, so I felt the squad needed some shaking up at half-time. This explains why I did what I did.” Anthony Gordon, Nick Woltemade and Emil Krafth were substituted at the interval and the team did stabilise to an extent in the second half, without ever really looking like they might get back into the contest against an opponent that had secured just a single victory of their previous nine fixtures. Considering the congestion the middle of the standings is, with just three points separating third from 11th, and a nine-point margin between second and 17th, a sequence of 12 points from ten matches has not left the Magpies adrift but, equally, they cannot finish the season in thirteenth place. The Issue of Expectations The problem to an extent is one of perception. With the Saudi PIF, Newcastle have the richest backers in the world. The expectation when the Saudi fund acquired a majority stake of the team in 2021 was that it would have a transformative effect, as Roman Abramovich had at Chelsea or the City Group did at the Etihad. The distinction is that both of those investors took over prior to the advent of financial fair play rules (while the ongoing charges against Manchester City relate to if they violated those guidelines after they were implemented). Profit and sustainability restrictions limit the ability of owners, however rich, to invest funds on their teams and so in that sense probably might have hindered any Saudi attempt to elevate Newcastle to the standard of City. But there is no need for Newcastle’s expenditure to have been so restrained as it has; they could have invested further and remained within the limit – or just accepted a fairly minor European fine since their big problem is primarily with the European than the Premier League regulation. Stadium Investment and PSR Regulations Besides which, stadium development is excluded from Profit and Sustainability calculations; the easiest way to increase revenue to generate more financial headroom would be to extend or renovate the arena. Considering the site of the home ground, with listed buildings on two sides, in reality that probably means building an entirely new venue. There was talk in March of possibly undertaking the short move to Leazes Park – opposition from local groups could surely have been overcome with a commitment to create a replacement green space on the existing ground location – but there has not been no movement on that plan. There has occurred significant retrenchment from the PIF on a range of initiatives as it shifts focus on domestic affairs; the attitude to Newcastle appears entirely in alignment with that change of approach. Player Sales Situation The star striker saga was arose from that conflict. A more confident leadership might have framed his transfer as necessary to release funds for additional spending; rather there was a vain attempt to retain him. That meant the team began the season amidst a feeling of frustration despite the signings of several new players. The opening was indifferent: a single victory in their first six games. Yet it seemed a turning point was reached. They secured five in six before Sunday, a streak that featured convincing wins of Union Saint-Gilloise and Benfica in the Champions League. This explains the performance against West Ham was so surprising. The issue maybe is that Newcastle’s style is very aggressive, high-energy; a slight drop-off in intensity can have significant effects. Maybe the strain of domestic, Champions League and Carabao Cup competition, five games in a fortnight, had taken its toll. Woltemade started each of those matches and looked especially weary. The Nature of Modern Football That’s the reality of today's football. Coaches have to be prepared to rotate. Howe has been unfortunate that Wissa’s injury has left him short of forward choices but, no matter how reasonable the reasons, the weekend's performance was inexcusable –particularly following taking the lead at a stadium ready to turn on its own side. Howe will wish it was merely a temporary setback, one of those days when all players is below par at once, but if the Magpies are to secure the Champions League next season, not to mention eventually mount an genuine title challenge, they must not be as inconsistent as they have been.