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The Newcastle manager is not prone to histrionics or grand public pronouncements. Based on his usual demeanor, his press conference following Sunday’s loss to West Ham qualifies as a angry outburst. Newcastle scored first but the opposition took the lead by half-time, as well as hitting the post and seeing a spot-kick overturned by VAR, leading Howe to execute a triple change at the break.

“That was the frustrating thing about the first half,” the coach stated. “I almost could have taken anyone off and I think that was a reflection of where we were at that stage during the match and it's extremely uncommon for me to have that impression. Actually, I cannot recall I have during my tenure as head coach of Newcastle, so I felt the team required a significant change at half-time. That’s why I made what I did.”

Three key players were substituted at half-time and the team managed to steady somewhat in the latter period, without ever appearing like they could fight back into the contest against a side that had secured just a single victory of their previous nine league matches. Considering how packed the centre of the standings currently is, with just three points separating the top spots from mid-table, and nine points between second and 17th, a sequence of twelve points from 10 games has not placed Newcastle adrift but, similarly, they cannot end the campaign in 13th.

The Problem of Expectations

The challenge to an extent is one of perception. With the Saudi PIF, the club possess the wealthiest backers in the globe. The assumption when the Saudi fund bought 80% of the team in 2021 was that it would have a transformative effect, similar to the former Chelsea owner achieved at Stamford Bridge or the City Group had at Manchester City. The distinction is that both of those investors took over before the advent of financial fair play rules (and the ongoing allegations against Manchester City concern whether they violated those regulations once they were in place).

Financial restrictions restrict the ability of owners, no matter how wealthy, to spend money on their teams and so in that sense probably would have hindered any Saudi effort to raise Newcastle to the standard of City. But there is no need for the club's spending to have been so restrained as it has been; they might have invested further and stayed inside the limit – or simply taken a relatively meagre Uefa penalty given their major problem is more with the European than the Premier League regulation.

Infrastructure Spending and PSR Rules

Besides which, stadium development is exempted from PSR assessments; the easiest method to increase revenue to generate more financial flexibility would be to expand or redevelop the stadium. Considering the site of St James’ Park, with protected structures on two sides, in reality that likely means building an entirely new venue. Rumors circulated in March of possibly making the nearby relocation to a local park – opposition from community organizations could surely have been surmounted with a commitment to build a new park on the existing ground location – but there has not been no movement on that plan. There has been substantial cutbacks from the Saudi fund on a range of projects as it shifts focus on domestic affairs; the attitude to the football club appears completely in keeping with that strategic shift.

Player Sales Situation

The Alexander Isak saga was arose from that tension. A more confident leadership might have framed his transfer as essential to release capital for further investment; instead there was a unsuccessful effort to keep him. That meant the team began the season amid a sense of disappointment despite the signings of several new players. The opening was indifferent: one win in their first six games.

Yet it seemed a corner had been turned. They had won five in six prior to Sunday, a run 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 style is very aggressive, high-energy; a slight drop-off in intensity can have significant consequences. Maybe the pressure of Premier League, European and Carabao Cup matches, five fixtures in a fortnight, had taken its toll. The German forward started each of those games and appeared especially fatigued.

Reality of Contemporary Soccer

This is the nature of today's the sport. Managers have to be prepared to make changes. The manager has been unfortunate that Wissa’s injury has left him short of forward choices but, regardless of how valid the reasons, the weekend's performance was inexcusable –especially following taking the lead at a stadium ready to turn on its home team.

Howe will wish it was merely a temporary setback, one of those days when everybody is below par simultaneously, but if the Magpies are to secure the European competition in the future, not to mention eventually launch an actual title challenge, they must not be as inconsistent as they have been.