NEWCASTLE: Eddie Howe believes Newcastle United’s Saudi owners have been proved correct in their decision to take a totally different approach to financing the club, compared with that of sanctions-threatened, Abu Dhabi-owned Manchester City.
This week, the Premier League charged City with breaking its Financial Fair Play rules about 100 times over a nine-year period. The club is accused of breaching the regulations between 2009 and 2018, during which time it won the Premier League title three times. If found guilty, Man City face a fine, in the best-case scenario, or possible relegation from the top flight, in the worst.
The financial situation at Newcastle is totally different, however. While cash has been thrown at Man City hand over fist since it came under Emirati ownership in 2008, Newcastle’s new owners adopted a more conservative approach when they took over in October 2021. As such, it is unlikely the Magpies will be drawn into the FFP controversy.
While he would naturally like to see more investment in his team — what manager would not — Howe understands exactly why the Saudi Public Investment Fund and the club’s other, minority, owners decided to shun the Man City model and forge their own financial path.
“Yes, they have (been sensible),” Howe said of the club’s owners. “The conditions we face mean we have to be. Hopefully it does gives a greater understanding of our methods and what we are trying to do — and me in press conferences trying to explain it.
“It’s very difficult to explain it unless you’ve got all the numbers sitting in front of you. I can’t fully give you the explanation but the way we have reacted in the transfer market, hopefully it makes sense.
“I’ve always said that Financial Fair Play is real for us. I’m not there doing the figures and the numbers, and I don’t quite understand how it fully works — I’m obviously led by the people above me at the club to say what we can and can’t do.
“But certainly it’s been there and I think it will continue to be there for us unless we can dramatically change our revenue streams. That’s the way football is going.”
One major part of the club’s off-the-pitch redevelopment plans was revealed this week, with the news that the club has bought back land behind the Gallowgate Stand, known as Strawberry Place. Former owner Mike Ashley sold it to property developers before he exited the club, severely limiting the potential for expansion of the 52,000-capacity stadium.
However, after negotiations led by PCP Capital Partners’ Mehrdad Ghodoussi, the Magpies have reacquired the plot, reviving the prospect of stadium expansion at a time when demand for tickets is at an all-time high.
“I think I’ve said many times that St James’ Park is an unbelievable place to play football, and to be part of that experience every week is a brilliant thing,” said Howe.
“Anything we can do to enhance that for the supporters, I’m fully behind. If there is an opportunity to expand and make it bigger, I don’t think we’ll have an issue selling the tickets, currently, and make the atmosphere and opportunity for people even better to come and watch us.”
Howe takes his United side on a trip to former club Bournemouth on Saturday as they look to get back to winning ways after a frustrating run of draws. It is the first time he has taken a team to his old stomping ground, where he led the Cherries from the bottom tier to the Premier League.
“From the emotional side, it’s difficult to predict how I’ll feel walking out at a stadium I know so well and (where there are) so many people I know so well,” he said.
“But for the moment, we’re preparing as we would for any other Premier League game to make sure we get our players ready for what will be a really tough game. I know from the other side, preparing for a game as Bournemouth manager, it’s a special place to play football when it’s rocking. We need to be ready for that kind of atmosphere.”
On the selection front, Alexander Isak is expected to be fit and take a place on the bench for United at the Vitality Stadium.
