🔗 Share this article Why Saudi Money Has Not Turned The Magpies into Title Contenders Eddie Howe isn't typically given to histrionics or grand public statements. Based on his usual demeanor, his media briefing following Sunday’s loss to West Ham qualifies as a furious outburst. Newcastle took an early lead but West Ham took the lead by the interval, while also hitting the post and having a penalty overturned by VAR, prompting Howe to make a triple change at the break. “That was the frustrating thing about the first half,” the coach said. “I almost could have taken anyone off and I believe that was a reflection of where we were at that stage during the match and it's extremely uncommon for me to feel that way. Actually, I cannot recall I have since I’ve been manager of the club, so I felt the team needed a significant change at half-time. This explains why I did what I did.” Three key players all came off at the interval and Newcastle did stabilise somewhat in the latter period, but never really looking like they could fight back into the game against an opponent that had secured just a single victory of their previous nine fixtures. Considering the congestion the middle of the table is, with a mere three-point gap dividing third from 11th, and nine points between the upper and lower ranks, a run of 12 points from 10 games has not placed Newcastle adrift but, similarly, they cannot end the campaign in thirteenth place. The Issue of Expectations The problem to an extent is one of perception. In the Saudi Public Investment Fund, the club possess the wealthiest backers in the globe. The assumption when the Saudi fund bought 80% of the club in 2021 was that it would bring a game-changing impact, similar to the former Chelsea owner achieved at Stamford Bridge or Sheikh Mansour had at Manchester City. The difference is that those two owners assumed control before the introduction of FFP regulations (while the ongoing charges against City relate to if they breached those regulations once they were in place). Financial regulations limit the capacity of proprietors, however rich, to invest funds on their squads and therefore probably would have slowed any Saudi attempt to elevate the team to the standard of Manchester City. However it wasn't necessary for Newcastle’s expenditure to have been quite as cautious as it has; they might have spent more and remained within the threshold – or just accepted a fairly minor European penalty since their big problem is more with the continental than the Premier League rules. Infrastructure Spending and PSR Regulations Besides which, stadium development is excluded from Profit and Sustainability calculations; the simplest method to raise income to create more PSR flexibility would be to expand or redevelop the arena. Given the location of the home ground, with protected structures on two sides, practically that probably implies building an entirely new stadium. Rumors circulated in spring of possibly making the short move to a local park – opposition from local groups could surely have been surmounted with a promise to build a replacement green space on the current ground location – but there has not been no movement on that plan. There has been significant cutbacks from the Saudi fund on a range of initiatives as it refocuses on domestic affairs; the approach to the football club seems entirely in keeping with that change of approach. Player Sales Saga The Alexander Isak episode was arose from that conflict. A more confident leadership could have portrayed his transfer as necessary to free up capital for additional investment; instead there was a vain effort to keep him. That meant Newcastle began the season amid a feeling of frustration despite the signings of several new players. The opening was indifferent: one win in their initial six fixtures. Yet it appeared a turning point was reached. They had won five victories in six matches before Sunday, a streak that featured convincing wins of Union Saint-Gilloise and Benfica in the Champions League. That’s why the performance against West Ham was such a shock. The issue perhaps is that the team's approach is very aggressive, high-energy; a slight drop-off in energy can have profound effects. Perhaps the strain of Premier League, Champions League and Carabao Cup competition, five fixtures in a fortnight, had got to them. The German forward featured in all five matches and appeared especially fatigued. Reality of Modern Football That’s the reality of today's football. Coaches must be prepared to rotate. Howe has been unlucky that the forward's fitness issue has left him short of forward choices but, regardless of how reasonable the reasons, the weekend's showing was inexcusable –particularly following scoring first at a ground ready to criticize its own side. Howe will hope it was merely a temporary setback, an off-day when all players is off-colour simultaneously, but if the Magpies are to secure the Champions League next season, let alone one day launch an genuine title challenge, they cannot be as inconsistent as this.