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Eddie Howe is not given to dramatics or grand public pronouncements. So by his usual demeanor, his media briefing following Sunday’s 3-1 defeat qualifies as a angry tirade. His side scored first but the opposition took the lead by the interval, as well as hitting the post and having a penalty overturned by VAR, prompting Howe to execute a three substitutions at the half-time.

“The opening period was particularly irritating,” Howe stated. “Virtually any player could have been substituted and I think this indicated of our performance level in that moment in the game and it's extremely uncommon for me to have that impression. In fact, I cannot recall having done so during my tenure as head coach of the club, so I felt the team required a significant change at the break. That’s why I did those decisions.”

Three key players all came off at the interval and Newcastle did stabilise to an extent in the latter period, without ever appearing like they could fight back into the contest against a side that had won only one of their previous nine fixtures. Given the congestion the centre of the standings currently is, with a mere three-point gap dividing the top spots from mid-table, and a nine-point margin between the upper and lower ranks, a run of 12 points from ten matches has not placed Newcastle adrift but, equally, they must not finish the season in thirteenth place.

The Issue of Perception

The challenge to an extent is one of perception. With the Saudi PIF, Newcastle have the richest backers in the globe. The expectation at the time the PIF bought a majority stake of the club in recent years was that it would bring a game-changing impact, as Roman Abramovich had at Chelsea or the City Group did at the Etihad. The distinction is that both of those investors assumed control prior to the introduction of FFP rules (and the ongoing charges against Manchester City relate to if they violated those guidelines after they were implemented).

Profit and sustainability regulations limit the capacity of owners, no matter how wealthy, to spend money on their teams and so in that sense probably might have slowed any Middle Eastern effort to raise the team to the standard of City. However there is no need for Newcastle’s expenditure to have been so restrained as it has been; they might have invested further and stayed inside the limit – or just accepted a fairly minor European penalty given their big issue is more with the European than the domestic regulation.

Infrastructure Spending and PSR Regulations

Additionally, infrastructure spending is exempted from PSR calculations; the simplest way to increase revenue to generate more financial headroom would be to extend or renovate the stadium. Given the site of the home ground, with listed buildings on multiple sides, in reality that likely means building an entirely new stadium. Rumors circulated in March of potentially making the nearby relocation to a local park – resistance from community organizations might have been surmounted with a promise to create a new park 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 variety of initiatives as it refocuses on local investments; the approach to the football club seems entirely in alignment with that strategic shift.

The Alexander Isak Saga

The star striker saga was born of that tension. A more confident management might have framed his transfer as essential to free up capital for additional investment; instead there was a vain attempt to retain him. This resulted in the team began the season amidst a sense of disappointment despite the signings of Woltemade, Yoane Wissa, Jacob Ramsey, Malick Thiaw and Anthony Elanga. The opening was mixed: a single victory in their initial six fixtures.

But it appeared a turning point had been turned. They secured five in six prior to Sunday, a streak that included demolitions of a Belgian side and a Portuguese club in the European competition. This explains the performance against West Ham was such a shock. The issue perhaps is that the team's approach is very aggressive, very high-octane; a minor decrease in intensity can have significant effects. Perhaps the pressure of Premier League, European and Carabao Cup matches, five games in a fortnight, had taken its toll. Woltemade featured in each of those matches and appeared especially weary.

Reality of Contemporary Soccer

That’s the reality of modern football. Managers have to be prepared to rotate. Howe has been unlucky that Wissa’s fitness issue has meant he is lacking forward choices but, no matter how reasonable the explanations, Sunday’s performance was inexcusable –especially after scoring first at a ground primed to turn on its own side.

The Newcastle boss will hope it was just a blip, an off-day when everybody is below par simultaneously, but if Newcastle are to qualify for the Champions League next season, let alone eventually mount an genuine championship bid, they cannot be as unreliable as they have been.