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Eddie Howe is not given to histrionics or sweeping public statements. So by his standards, his press conference after Sunday’s loss to West Ham qualifies as a angry tirade. His side took an early lead but West Ham took the lead by the interval, as well as striking the woodwork and having a penalty overturned by VAR, leading Howe to make a three substitutions at the break.

“The opening period was particularly irritating,” Howe said. “I almost could have taken anyone off 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 don’t think I have since I’ve been head coach of the club, so I felt the squad needed a significant change at the break. This explains why I did what I did.”

Three key players were substituted at the interval and Newcastle did stabilise to an extent in the second half, without ever appearing like they might get back into the game against an opponent that had secured just a single victory of their last nine league matches. Given how packed the centre of the standings is, with just three points separating the top spots from mid-table, and a nine-point margin between the upper and lower ranks, a run of twelve points from ten matches has not left the Magpies stranded but, similarly, they must not finish the season in thirteenth place.

The Problem of Expectations

The challenge to an extent is one of perception. With the Saudi PIF, the club possess the richest backers in the world. The assumption at the time the PIF acquired 80% of the team in 2021 was that it would bring a transformative effect, similar to Roman Abramovich achieved at Stamford Bridge or Sheikh Mansour had at Manchester City. The difference is that those two investors assumed control before the introduction of financial fair play regulations (while the current allegations against Manchester City relate to if they breached those guidelines after they were in place).

Financial restrictions limit the capacity of owners, no matter how wealthy, to invest funds on their teams and so in that sense likely would have slowed every Middle Eastern attempt to raise Newcastle to the standard of Manchester City. But there is no need for Newcastle’s spending to have been so restrained as it has been; they might have invested further and stayed inside the threshold – or simply taken a fairly minor European fine since their major problem is primarily with the continental than the Premier League rules.

Infrastructure Investment and Financial Regulations

Additionally, infrastructure spending is exempted from PSR calculations; the easiest method to raise income to create additional financial headroom would be to expand or renovate the stadium. Considering the site of St James’ Park, with listed buildings on two sides, in reality that probably means constructing an completely new stadium. Rumors circulated in spring of possibly undertaking the short move to Leazes Park – opposition from community organizations might have been surmounted with a commitment to create a replacement green space on the current ground location – but there has been any progress on that proposal. There has occurred substantial cutbacks from the PIF on a range of initiatives as it refocuses on domestic affairs; the attitude to the football club appears entirely in keeping with that strategic shift.

Player Sales Saga

The Alexander Isak episode was born of that tension. A bolder management could have framed his sale as necessary to release capital for additional investment; rather there was a vain effort to keep him. This resulted in Newcastle began the season amid a feeling of frustration even with the signings of Woltemade, Yoane Wissa, Jacob Ramsey, Malick Thiaw and Anthony Elanga. The start was mixed: one win in their first six games.

But it appeared a corner was reached. They secured five in six prior to Sunday, a streak that included convincing wins of a Belgian side and a Portuguese club in the European competition. That’s why the display against the Hammers was so surprising. The problem maybe is that the team's approach is very aggressive, very high-octane; a minor decrease in intensity can have significant consequences. Perhaps the pressure of domestic, European and cup competition, five fixtures in a fortnight, had got to them. Woltemade started all five matches and looked particularly fatigued.

Reality of Modern Soccer

This is the reality of modern football. Coaches have to be prepared to rotate. The manager has been unfortunate that Wissa’s injury has meant he is short of forward choices but, no matter how valid the reasons, Sunday’s performance was inexcusable –particularly after taking the lead at a stadium primed to turn on its own side.

Howe will wish it was just a blip, an off-day when everybody is off-colour at once, but if the Magpies are to secure the European competition next season, let alone one day mount an genuine championship bid, they must not be as inconsistent as this.