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Eddie Howe isn't typically given to dramatics or grand media pronouncements. Based on his standards, his press conference after the weekend's loss to West Ham qualifies as a angry tirade. Newcastle took an early lead but the opposition were ahead 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.

“The opening period was particularly irritating,” Howe said. “I almost could have taken anyone off and I think that was a reflection of our performance level at that stage in the game and it's extremely uncommon for me to feel that way. Actually, I don’t think I have during my tenure as head coach of the club, so I felt the team required a significant change at half-time. This explains why I did what I did.”

Three key players all came off at half-time and the team managed to steady somewhat in the latter period, without ever really looking like they could fight back into the game against an opponent that had secured just a single victory of their last nine fixtures. Considering the congestion the centre of the standings is, with just three points separating third from 11th, and nine points between the upper and lower ranks, a sequence of twelve points from 10 games has not left Newcastle stranded but, equally, they must not finish the season in 13th.

The Problem of Expectations

The challenge partially is one of perception. With the Saudi PIF, the club possess the richest backers in the globe. The assumption at the time the PIF bought a majority stake of the team in 2021 was that it would have a transformative effect, as the former Chelsea owner had at Chelsea or Sheikh Mansour had at Manchester City. The difference is that those two investors assumed control prior to the introduction of FFP regulations (while the ongoing charges against Manchester City relate to if they violated those guidelines after they were implemented).

Financial regulations restrict the capacity of owners, however rich, to invest funds on their squads and so in that sense likely would have hindered every Saudi effort to elevate Newcastle to the level of City. However it wasn't necessary for the club's expenditure to have been quite as cautious as it has; they could have invested further and remained within the limit – or simply taken a fairly minor European penalty given their big issue is more with the European than the Premier League rules.

Stadium Investment and PSR Rules

Besides which, stadium development is excluded from Profit and Sustainability calculations; the easiest method to raise income to generate additional financial flexibility would be to extend or redevelop the arena. Considering the location of the home ground, with protected structures on two sides, practically that likely implies building an entirely new venue. There was talk in spring of possibly making the nearby relocation to Leazes Park – resistance from local groups could surely have been surmounted with a promise to create a replacement green space on the existing stadium site – but there has been any progress on that plan. There has occurred substantial retrenchment from the PIF on a range of projects as it shifts focus on local investments; the approach to the football club appears entirely in alignment with that strategic shift.

Player Sales Saga

The Alexander Isak episode was arose from that tension. A more confident leadership could have portrayed his sale as necessary to free up capital for further investment; instead there was a vain effort to retain him. That meant Newcastle started the campaign amidst a sense 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 fixtures.

But it seemed a corner had been turned. They secured five victories in six matches prior to the weekend, a streak that featured convincing wins of Union Saint-Gilloise and Benfica in the Champions League. This explains the performance against the Hammers was so surprising. The issue maybe is that the team's approach is very aggressive, high-energy; a slight drop-off in energy can have significant consequences. Maybe the pressure of Premier League, European and cup matches, five games in a fortnight, had got to them. The German forward started each of those games and appeared particularly fatigued.

Reality of Modern Soccer

That’s the reality of modern football. Coaches have to be ready to rotate. Howe has been unfortunate that Wissa’s fitness issue has left him short of attacking options but, regardless of how reasonable the explanations, the weekend's performance was unacceptable –particularly after scoring first at a ground primed 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 Newcastle are to qualify for the European competition in the future, let alone eventually launch an genuine championship bid, they must not be as unreliable as this.