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Eddie Howe isn't typically prone to histrionics or sweeping public pronouncements. Based on his standards, his press conference after Sunday’s loss to West Ham qualifies as a furious tirade. Newcastle took an early lead but West Ham were ahead by half-time, as well as hitting the post and seeing a spot-kick overturned by VAR, prompting Howe to make a triple change at the half-time.

“The opening period was particularly irritating,” the coach said. “I almost could have taken anyone off and I believe that was a reflection of our performance level at that stage in the game and it’s very, very rare for me to have that impression. In fact, I don’t think I have since I’ve been manager of Newcastle, therefore I believed the team required some shaking up at the break. This explains why I made what I did.”

Three key players all came off at the interval and Newcastle managed to steady somewhat in the second half, but never really looking like they might fight back into the game against a side that had won only one of their last nine league matches. Considering how packed the centre of the table currently is, with just three points dividing third from 11th, and nine points between the upper and lower ranks, a run of twelve points from ten matches has not placed the Magpies stranded but, equally, they must not end the campaign in 13th.

The Problem of Expectations

The challenge partially is one of perception. With the Saudi PIF, Newcastle possess the richest backers in the globe. The assumption at the time the Saudi fund acquired 80% of the club in 2021 was that it would have a game-changing impact, as Roman Abramovich had at Chelsea or Sheikh Mansour did at the Etihad. The difference is that both of those owners took over before the introduction of FFP rules (while the ongoing charges against City relate to whether they violated those guidelines once they were implemented).

Profit and sustainability restrictions limit the capacity of owners, however rich, to invest funds on their teams and therefore probably would have hindered any Saudi effort to raise the team to the level of Manchester City. But there is no need for the club's spending to have been quite as cautious as it has been; they could have spent more and stayed inside the threshold – or simply taken a fairly minor Uefa penalty since their big issue is primarily with the continental than the Premier League rules.

Infrastructure Spending and PSR Rules

Additionally, stadium development is excluded from Profit and Sustainability calculations; the easiest method to raise income to generate additional PSR headroom would be to expand or renovate the stadium. Considering the site of St James’ Park, with protected structures on two sides, practically that likely implies constructing an completely new venue. Rumors circulated in March of possibly undertaking the nearby relocation to a local park – resistance from local groups might have been overcome with a commitment to build a replacement green space on the current stadium site – but there has been any progress on that proposal. There has occurred substantial retrenchment from the Saudi fund on a range of projects as it shifts focus on domestic affairs; the attitude to the football club appears entirely in alignment with that strategic shift.

Player Sales Saga

The Alexander Isak saga was born of that conflict. A bolder leadership might have portrayed his sale as essential to release funds for further investment; rather there was a vain attempt to keep him. This resulted in the team started the campaign amidst a sense of disappointment even with the acquisitions of Woltemade, Yoane Wissa, Jacob Ramsey, Malick Thiaw and Anthony Elanga. The opening was mixed: a single victory in their initial six games.

Yet it seemed a corner was reached. They secured five victories in six matches prior to Sunday, a streak that featured demolitions of Union Saint-Gilloise and Benfica in the European competition. That’s why the display against the Hammers was so surprising. The problem perhaps is that Newcastle’s style is extremely intense, high-energy; a minor decrease in intensity can have significant effects. Perhaps the pressure of domestic, Champions League and Carabao Cup matches, five fixtures in 15 days, had taken its toll. Woltemade featured in all five matches and appeared especially weary.

The Nature of Modern Soccer

This is the reality of today's football. Coaches have to be ready to make changes. Howe has been unfortunate that the forward's fitness issue has meant he is short of attacking options but, regardless of how valid the explanations, Sunday’s performance was unacceptable –particularly after taking the lead at a stadium ready to criticize its home team.

Howe will hope it was merely a temporary setback, an off-day when all players is below par at once, but if Newcastle are to secure the Champions League in the future, let alone eventually mount an actual title challenge, they cannot be as inconsistent as they have been.