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Eddie Howe isn't typically prone to dramatics or sweeping media pronouncements. Based on his standards, his press conference following Sunday’s loss to West Ham qualifies as a furious outburst. Newcastle took an early lead but the opposition took the lead by the interval, while also hitting the post and seeing a spot-kick overturned by VAR, leading Howe to make a three substitutions at the break.

“The opening period was particularly irritating,” the coach stated. “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 squad required a significant change at half-time. That’s why I made what I did.”

Anthony Gordon, Nick Woltemade and Emil Krafth all came off at the interval and the team did stabilise to an extent in the latter period, without ever really looking like they might get back into the game against an opponent that had won only one of their last nine league matches. Considering how packed the middle of the standings currently is, with just three points dividing third from 11th, and nine points between second and 17th, a sequence of twelve points from 10 games has not placed the Magpies adrift but, equally, they cannot end the campaign in 13th.

The Problem of Perception

The challenge partially is one of perception. In the Saudi Public Investment Fund, the club possess the wealthiest owners in the world. The assumption at the time the PIF bought a majority stake of the club in 2021 was that it would have a game-changing impact, similar to the former Chelsea owner achieved at Stamford Bridge or the City Group did at the Etihad. The difference is that both of those investors assumed control prior to the advent of FFP regulations (while the ongoing charges against Manchester City concern if they violated those regulations after they were implemented).

Financial restrictions restrict the capacity of owners, no matter how wealthy, to spend money on their squads and so in that sense probably might have slowed any Saudi attempt to raise Newcastle to the standard of City. But it wasn't necessary for Newcastle’s spending to have been so restrained as it has; they might have spent more and remained within the threshold – or simply taken a relatively meagre Uefa fine given their major problem is primarily with the continental than the domestic rules.

Stadium Spending and Financial Regulations

Besides which, infrastructure spending is excluded from Profit and Sustainability assessments; the simplest method to raise income to create additional financial headroom would be to expand or renovate the stadium. Given the location of St James’ Park, with protected structures on two sides, practically that probably implies constructing an entirely new stadium. Rumors circulated in spring of potentially undertaking the nearby relocation to a local park – opposition from community organizations could surely have been surmounted with a promise to create a new park on the existing stadium site – but there has not been no movement on that proposal. There has occurred significant retrenchment from the PIF on a range of initiatives as it shifts focus on local investments; the attitude to the football club appears completely in keeping with that strategic shift.

The Alexander Isak Saga

The star striker episode was born of that conflict. A bolder management might have framed his sale as necessary to free up capital for further investment; rather there was a unsuccessful attempt to retain him. That meant the team started the campaign amidst a feeling of disappointment despite the signings of several new players. The opening was indifferent: one win in their first six fixtures.

Yet it seemed a turning point was reached. They had won five in six before Sunday, a run that included convincing wins of a Belgian side and a Portuguese club in the European competition. That’s why the performance against West Ham was so surprising. The issue perhaps is that Newcastle’s style is very aggressive, very high-octane; a minor decrease in intensity can have significant consequences. Perhaps the pressure of domestic, Champions League and cup matches, five fixtures in 15 days, had got to them. The German forward featured in each of those games and looked especially weary.

Reality of Contemporary Football

This is the reality of today's football. Managers must be prepared to make changes. The manager has been unfortunate that the forward's fitness issue has meant he is short of attacking options but, regardless of how reasonable the explanations, the weekend's performance was inexcusable –particularly following taking the lead at a ground primed to criticize its own side.

Howe will hope it was just a blip, one of those days when all players is off-colour simultaneously, but if Newcastle are to qualify for the Champions League next season, not to mention eventually mount an actual championship bid, they cannot be as inconsistent as they have been.