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Eddie Howe isn't typically prone to dramatics or grand media pronouncements. So by his usual demeanor, his press conference following the weekend's 3-1 defeat qualifies as a furious outburst. His side scored first but the opposition were ahead by half-time, while also striking the woodwork and having a penalty revoked by VAR, leading Howe to execute a triple change at the half-time.

“The opening period was particularly irritating,” Howe stated. “I almost could have taken anyone off and I think that was a reflection of where we were in that moment during the match and it's extremely uncommon for me to have that impression. Actually, I cannot recall having done so since I’ve been manager of Newcastle, therefore I believed the team required some shaking up 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 latter period, without ever appearing like they might fight back into the game against an opponent that had won only one of their previous nine fixtures. Considering how packed the centre of the table is, with a mere three-point gap separating third from 11th, and nine points between second and 17th, a run of twelve points from ten matches has not left the Magpies adrift but, similarly, they cannot end the campaign in thirteenth place.

The Issue of Perception

The problem partially is one of public view. With the Saudi PIF, Newcastle possess the wealthiest owners in the world. The expectation when the PIF bought a majority stake of the club in 2021 was that it would have a game-changing impact, similar to the former Chelsea owner achieved at Stamford Bridge or Sheikh Mansour did at the Etihad. The difference is that both of those investors assumed control before the advent of financial fair play regulations (while the current allegations against Manchester City relate to whether they breached those regulations after they were implemented).

Profit and sustainability restrictions restrict the capacity of proprietors, no matter how wealthy, to invest funds on their squads and therefore probably would have hindered any Saudi effort to elevate the team to the standard of Manchester City. However it wasn't necessary for the club's expenditure to have been quite as cautious as it has been; they might have invested further and remained within the limit – or just accepted a fairly minor Uefa fine given their big issue is primarily with the European than the domestic regulation.

Infrastructure Spending and PSR Regulations

Besides which, stadium development is excluded from Profit and Sustainability calculations; the easiest method to increase revenue to create additional financial flexibility would be to extend or redevelop the stadium. Considering the site of St James’ Park, with listed buildings on two sides, in reality that probably implies building an completely new venue. Rumors circulated in spring of potentially undertaking the short move to a local park – opposition from community organizations could surely have been surmounted with a commitment to build a new park on the current ground location – but there has been any progress on that plan. There has occurred significant cutbacks from the Saudi fund on a variety of projects as it shifts focus on local investments; the attitude to the football club seems completely in keeping with that change of approach.

Player Sales Saga

The Alexander Isak episode was born of that tension. A bolder leadership could have framed his sale as essential to release capital for further investment; rather there was a vain attempt to retain him. This resulted in Newcastle began the season amidst a feeling 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 first six fixtures.

But it appeared a corner was reached. They secured five in six prior to the weekend, a run that included convincing wins of Union Saint-Gilloise and Benfica in the Champions League. This explains the display against the Hammers was so surprising. The problem perhaps is that the team's approach is extremely intense, very high-octane; a slight drop-off in energy can have significant consequences. Maybe the strain of Premier League, Champions League and Carabao Cup competition, five fixtures in 15 days, had taken its toll. Woltemade started all five games and appeared especially weary.

Reality of Modern Soccer

That’s the nature of modern the sport. Coaches have to be prepared to make changes. Howe has been unlucky that the forward's injury has meant he is lacking attacking options but, no matter how reasonable the explanations, the weekend's showing was inexcusable –particularly after scoring first at a ground ready to turn on its own side.

Howe will wish it was just a blip, an off-day when everybody is off-colour simultaneously, but if the Magpies are to qualify for the European competition in the future, not to mention one day mount an genuine title challenge, they cannot be as inconsistent as this.