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Eddie Howe is not given to histrionics or sweeping media statements. So by his usual demeanor, his media briefing after Sunday’s 3-1 defeat counts as a furious tirade. Newcastle took an early lead but West Ham were ahead by half-time, as well as 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. “I almost could have taken anyone off and I think that was a reflection of where we were 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 manager of Newcastle, therefore I believed the squad needed some shaking up at the break. That’s why I made those decisions.”

Anthony Gordon, Nick Woltemade and Emil Krafth were substituted at half-time and the team managed to steady to an extent in the latter period, without ever appearing like they might fight back into the contest 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 the top spots from mid-table, and a nine-point margin between the upper and lower ranks, a run of twelve points from 10 games has not placed Newcastle stranded but, similarly, they cannot finish the season in thirteenth place.

The Issue of Perception

The problem to an extent is one of public view. In the Saudi Public Investment Fund, the club possess the richest backers in the globe. The expectation at the time the PIF bought 80% of the team in 2021 was that it would bring a transformative effect, similar to Roman Abramovich had at Chelsea or Sheikh Mansour had at Manchester City. The difference is that both of those investors assumed control before the advent of financial fair play regulations (and the current charges against Manchester City relate to whether they breached those regulations after they were implemented).

Financial regulations limit the capacity of owners, however rich, to invest funds on their squads and therefore probably might have hindered any Middle Eastern attempt to raise the team to the level of Manchester City. But it wasn't necessary for Newcastle’s spending to have been so restrained as it has; they might have invested further and stayed inside the threshold – or simply taken a relatively meagre European fine given their big problem is primarily with the European than the Premier League regulation.

Infrastructure Spending and PSR Rules

Additionally, infrastructure spending is exempted from Profit and Sustainability calculations; the simplest method to increase revenue to create additional financial flexibility would be to extend or redevelop the stadium. Given the location of St James’ Park, with protected structures on two sides, in reality that likely implies constructing an completely new venue. There was talk in spring of potentially undertaking the nearby relocation to Leazes Park – resistance from local groups might have been overcome with a promise to create a replacement green space on the current stadium site – but there has not been no movement on that proposal. There has occurred substantial retrenchment from the PIF on a variety of projects as it refocuses on domestic affairs; the approach to Newcastle appears completely in alignment with that strategic shift.

The Alexander Isak Saga

The star striker episode was born of that tension. A bolder management could have portrayed his sale as necessary to release funds for additional spending; rather there was a unsuccessful effort to keep him. This resulted in Newcastle began the season amidst a feeling of disappointment despite the acquisitions of Woltemade, Yoane Wissa, Jacob Ramsey, Malick Thiaw and Anthony Elanga. The start was mixed: one win in their first six games.

Yet it seemed a corner had been turned. They secured five in six before the weekend, a streak that featured convincing wins of Union Saint-Gilloise and a Portuguese club in the Champions League. This explains the performance against the Hammers was such a shock. The problem maybe is that the team's style is extremely intense, very high-octane; a slight drop-off in energy can have profound effects. Maybe the strain of domestic, Champions League and Carabao Cup matches, five fixtures in a fortnight, had taken its toll. Woltemade featured in all five games and appeared particularly weary.

Reality of Modern Soccer

This is the reality of today's football. Coaches have to be prepared to rotate. Howe has been unfortunate that Wissa’s fitness issue has meant he is lacking attacking options but, regardless of how valid the reasons, Sunday’s showing was inexcusable –especially after scoring first at a stadium ready to criticize its home team.

Howe will hope it was just a blip, an off-day when everybody is off-colour simultaneously, but if Newcastle are to secure the Champions League in the future, not to mention one day launch an genuine championship bid, they cannot be as inconsistent as this.