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Eddie Howe is not prone to histrionics or sweeping public statements. Based on his usual demeanor, his media briefing following the weekend's loss to West Ham qualifies as a angry outburst. Newcastle took an early lead but the opposition were ahead by half-time, while also hitting the post and seeing a spot-kick revoked by VAR, leading Howe to make a triple change at the half-time.

“The opening period was particularly irritating,” the coach said. “Virtually any player could have been substituted and I think this indicated of our performance level at that stage in the game and it’s very, very rare for me to feel that way. In fact, I cannot recall having done so since I’ve been head coach of the club, therefore I believed the team required a significant change at the break. That’s why I made those decisions.”

Anthony Gordon, Nick Woltemade and Emil Krafth were substituted at the interval and the team managed to steady somewhat in the second half, but never appearing like they could get back into the game against an opponent that had won only one of their previous nine league matches. Given how packed the middle of the standings currently is, with a mere three-point gap separating the top spots from mid-table, and a nine-point margin between second and 17th, a sequence of 12 points from ten matches has not placed the Magpies stranded but, similarly, they must not finish the season in thirteenth place.

The Problem of Perception

The problem to an extent is one of perception. With the Saudi PIF, Newcastle possess the wealthiest owners in the world. The expectation at the time the Saudi fund bought 80% of the club in 2021 was that it would have a transformative effect, as the former Chelsea owner achieved at Stamford Bridge or Sheikh Mansour had at Manchester City. The difference is that those two owners assumed control before the introduction of financial fair play rules (and the ongoing charges against City relate to whether they breached those regulations after they were implemented).

Profit and sustainability regulations limit the ability of proprietors, no matter how wealthy, to spend money on their squads and so in that sense likely might have slowed any Saudi effort to raise the team to the level of Manchester City. But it wasn't necessary for the club's expenditure to have been so restrained as it has been; they might have spent more and remained within the limit – or simply taken a relatively meagre European penalty since their big issue is primarily with the European than the Premier League rules.

Infrastructure Spending and Financial Rules

Additionally, stadium development is excluded from PSR calculations; the easiest way to increase revenue to create more PSR flexibility would be to expand or renovate the arena. Given the location of the home ground, with listed buildings on two sides, in reality that likely means constructing an entirely new stadium. Rumors circulated in spring of potentially making the nearby relocation to a local park – opposition from community organizations could surely have been surmounted with a promise to create a replacement green space on the existing ground location – but there has been no movement on that proposal. There has occurred substantial cutbacks from the Saudi fund on a range of projects as it shifts focus on local investments; the approach to Newcastle seems completely in alignment with that change of approach.

The Alexander Isak Situation

The Alexander Isak saga was born of that conflict. A more confident management might have framed his transfer as necessary to free up funds for further spending; rather there was a unsuccessful effort to retain him. That meant Newcastle began the season amid a sense of disappointment even with the signings of several new players. The start was indifferent: a single victory in their first six fixtures.

Yet it appeared a turning point was reached. They had won five victories in six matches prior to the weekend, a streak that included convincing wins of a Belgian side and Benfica in the European competition. That’s why the display against the Hammers was so surprising. The issue perhaps is that the team's approach is extremely intense, high-energy; a minor decrease in energy can have profound consequences. Perhaps the strain of Premier League, European and Carabao Cup matches, five fixtures in 15 days, had got to them. The German forward featured in all five matches and appeared especially fatigued.

Reality of Contemporary Football

This is the reality of modern the sport. Coaches must be prepared to rotate. Howe has been unfortunate that Wissa’s injury has meant he is lacking attacking options but, regardless of how valid the reasons, Sunday’s performance was inexcusable –especially after taking the lead at a stadium primed to criticize its own side.

The Newcastle boss will wish it was merely a temporary setback, an off-day when all players is off-colour at once, but if Newcastle are to qualify for the European competition in the future, let alone eventually launch an genuine title challenge, they cannot be as inconsistent as they have been.