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Eddie Howe isn't typically prone to histrionics or sweeping media pronouncements. Based on his standards, his press conference following Sunday’s 3-1 defeat qualifies as a furious tirade. His side took an early lead but West Ham were ahead by half-time, while also hitting the post and seeing a spot-kick overturned by VAR, prompting Howe to execute a three substitutions at the half-time.

“The opening period was particularly irritating,” Howe said. “I almost could have taken anyone off and I think this indicated of our performance level at that stage in the game and it’s very, very rare for me to have that impression. In fact, I don’t think having done so since I’ve been head coach of the club, therefore I believed the squad required some shaking up at the break. This explains why I did those decisions.”

Anthony Gordon, Nick Woltemade and Emil Krafth were substituted at half-time and Newcastle did stabilise to an extent in the second half, without ever really looking like they might fight back into the game against an opponent that had secured just a single victory of their last nine fixtures. Considering the congestion the middle of the table currently is, with a mere three-point gap separating third from 11th, and nine points between second and 17th, a sequence of twelve points from ten matches has not placed the Magpies adrift but, equally, they cannot end the campaign in 13th.

The Problem of Expectations

The challenge partially is one of perception. In the Saudi Public Investment Fund, the club have the richest owners in the globe. The assumption when the PIF acquired 80% of the club in 2021 was that it would have a transformative effect, as Roman Abramovich had at Chelsea or the City Group did at the Etihad. The difference is that those two investors assumed control prior to the advent of FFP rules (and the ongoing allegations against City relate to if they breached those regulations once they were in place).

Financial restrictions limit the capacity of proprietors, no matter how wealthy, to invest funds on their teams and so in that sense probably might have hindered every Middle Eastern effort to raise the team to the level of City. But there is no need for the club's spending to have been so restrained as it has; they could have invested further and stayed inside the limit – or simply taken a relatively meagre Uefa fine given their big issue is primarily with the European than the domestic regulation.

Stadium Spending and PSR Regulations

Besides which, infrastructure spending is excluded from PSR calculations; the simplest way to raise income to generate more financial headroom would be to extend or renovate the arena. Considering the location of the home ground, with protected structures on two sides, practically that likely means constructing an entirely new venue. Rumors circulated in spring of potentially undertaking the nearby relocation to a local park – opposition from community organizations could surely have been overcome with a promise to create a replacement green space on the existing stadium site – but there has been no movement on that plan. There has occurred substantial cutbacks from the Saudi fund on a range of initiatives as it shifts focus on local investments; the approach to the football club appears completely in alignment with that change of approach.

Player Sales Situation

The star striker episode was arose from that conflict. A more confident management might have portrayed his transfer as necessary to release funds for additional investment; rather there was a unsuccessful attempt to keep him. That meant the team began the season amid a feeling of frustration despite the signings of Woltemade, Yoane Wissa, Jacob Ramsey, Malick Thiaw and Anthony Elanga. The start was indifferent: a single victory in their initial six games.

Yet it seemed a turning point had been turned. They had won five victories in six matches prior to the weekend, a run that included convincing wins of a Belgian side and Benfica in the European competition. That’s why the performance against the Hammers was such a shock. The issue perhaps is that the team's approach is extremely intense, very high-octane; a slight drop-off in intensity can have profound effects. Perhaps the pressure of domestic, European and cup competition, five games in 15 days, had got to them. Woltemade started each of those games and appeared particularly fatigued.

The Nature of Modern Football

That’s the reality of today's football. Coaches must be prepared to make changes. The manager has been unlucky that the forward's injury has meant he is short of forward choices but, no matter how valid the explanations, Sunday’s performance was unacceptable –particularly after taking the lead at a stadium primed to criticize its home team.

The Newcastle boss will wish it was merely a temporary setback, an off-day when everybody is below par simultaneously, but if the Magpies are to secure the Champions League in the future, let alone one day launch an genuine title challenge, they cannot be as inconsistent as they have been.