What has Changed Following the Newcastle United Takeover?
The manager's voice trailed off.
"I recall strolling through the practice facility when we came up that initial period," stated the Newcastle United head coach last week. "It was…"
Howe wasn't becoming sentimental, but reflecting on the work needed to improve the club's dated Benton base following his hiring nearly four years ago.
Newcastle had not long been acquired by a investment group from Saudi Arabia in a multi-million pound transaction.
The club had been labeled the wealthiest in the world by observers, but the situation on the ground was quite distinct as they battled relegation.
In a planning application to upgrade the facility a few months later, it was noted the training complex fell "significantly below the Premier League and perhaps even Championship standards".
The facility has since been updated with hydrotherapy and cold pools, a new canteen, a players' lounge and bigger dressing rooms, among other features, but it is the squad that has been truly transformed since then.
So what has evolved since the takeover and why didn't the wealth of Newcastle's owners guarantee more achievements and honours?
Further Improvements Required but Things Will Change
Matt Ritchie felt it.
He understood what could happen if Howe "got hold of them" and "had some firepower", after having collaborated with the manager at Bournemouth.
"When I first arrived, I would talk about Eddie Howe and Bournemouth," said the 36-year-old winger, who represented Newcastle between 2016 and 2024.
"My teammates would say, 'come on, drop it, he can't have been that good'. But I'd tell them there was complete thoroughness."
"I was so pleased that they got to sample it. Without firsthand exposure, you don't truly believe you have never experienced such intensity. It's the meticulous planning, the planning and the desire to improve - all the things that make Newcastle what they are now."
It has not been entirely smooth, of course, since Howe's appointment or the takeover a few weeks prior.
Newcastle, presently mid-table in the top division, failed to secure a several objectives during a exhausting transfer period and sold forward Alexander Isak to Liverpool for a record-breaking £125m.
The club do not have a technical director after Paul Mitchell departed in June, following under twelve months in the post.
And the wait continues for updates concerning the future of St James' Park and building of a modern training facility.
But this is a side that broke a 70-year drought to win a major domestic trophy back in March after lifting the Carabao Cup by beating Liverpool.
They have secured entry to the Champions League in two of the past three seasons - achieving their biggest win in the competition against Union Saint-Gilloise this week - and only Manchester City, Liverpool and Arsenal have accumulated more points in the Premier League since Howe assumed control.
"A lot has changed just in terms of the overall atmosphere of the club," continued Howe. "Of course, the team has changed. Inevitably, teams progress and change over time."
"The way we're working behind the scenes as a football club is totally different but, also, if you examine the training ground here, there have been major enhancements. That's what the club required and still needs."
"Further development is necessary, but progress will occur and gradually evolve over time. It's a promising period for the football club."
Trying to Bridge Significant Income Disparity
Newcastle have also grown off the field.
Revenue is set to increase from £140m in 2021 to upward of £400m when the club's most recent financial reports are released later this season, while employee count have increased significantly to 550 in the past few seasons.
There has been significant funding in the youth system and the women's team, while substantial sums have been invested in the club to help with operational expenses.
But one query outsiders might be asking is why the wealth of their Saudi owners hasn't yielded more achievements.
Though new signings have arrived - around £100m net was spent in the summer - this has been a relatively gradual build.
"Since the new ownership were so wealthy, theoretically, a lot of people presumed that they were going to purchase success," stated a Newcastle fan analyst.
"Certainly, Newcastle have brought in some top-class players like Bruno Guimaraes and Sandro Tonali, but the progress of existing squad players and the signing of players like Dan Burn from the region to strengthen that feeling around the club has been massive and crucial."
Such an approach has been affected by Profit and Sustainability Rules (PSR), which restrict losses to £105m over a rolling three-year period, so finding a way to create additional flexibility will be crucial for Newcastle.
For context, Manchester United may have experienced their worst campaign in more than four decades last season, but the club still generated historic income of £666.5m.
Digging deeper, Manchester United brought in £333.3m worth of sponsorship revenue and £160.3m in matchday revenue.
Newcastle, by comparison, generated £83.6m and £50.1m correspondingly in their most recent published accounts from 2023-24.
Acquisition 'Increased' Rivals' Concerns
Manchester United have not necessarily optimized their substantial revenue sources, of course.
But, historically, the sides who spend more on wages pick up the most points per game in the Premier League.
Earlier challengers like Manchester City and Chelsea were able to blow their rivals out of the water with better financial offers before the current rules were introduced in 2013.
But Newcastle 'only' had the eighth largest salary bill in the Premier League just a couple of seasons ago and the club came extremely near to a PSR breach in June 2024 following years of imbalanced trading.
"I'm uncertain these are unintended consequences of the rules," said a sports financial analyst. "The more Machiavellian view of the Premier League is that the clubs at the top wished to prevent another City or Chelsea to arise. This is a way of creating a glass ceiling."
Newcastle are going to have to do things a somewhat uniquely - and that has been evident since the takeover.
In fact, an unnamed executive previously approached the Premier League on behalf of his club and multiple teams amid concern Newcastle could enter into lucrative sponsorship deals with Saudi Arabian companies.
He asked that notification was provided of a vote to introduce a short-term ban on related-party transactions just five days after the buy-out in 2021.
This high-ranking official openly admitted the Newcastle takeover "heightened" worries and "prompted teams to demand measures" when he was later cross-examined by Manchester City's legal team.
'No-one Should Excuse Human Rights Situation in Saudi Arabia'
The associated party transaction rules have been updated and continue to apply.
But Newcastle's new CEO, David Hopkinson, has set out to find ways to realize the club's "untapped business opportunities".
That has not come as a surprise to associate Tom Pistore, who collaborated with the Canadian at Maple Leaf Sports & Entertainment.
"Our group under his leadership were always trying to focus on how do we keep progressing?" he said. "Status quo keeps you stationary so it was about continuing to be creative in business and partnership relationships, innovation, digital and ticketing."
"As the landscape changed, David was always very progressive with a curious interest in new concepts. Leading edge, but not experimental were terms we often talked about in observing early adopters at something and then having a proper evaluation."
Hopkinson, who formerly held positions as president and chief operating officer at Madison Square Garden Sports and head of global partnerships at Real Madrid, wants to establish Newcastle "among the world's elite".
That remains the future goal of board leader Yasir Al-Rumayyan, the governor of the Saudi Arabian Public Investment Fund (PIF) - who own a majority stake in the club - as well as fellow owner Jamie Reuben.
But a rights activist said "goals and glory are diverting attention from human rights issues" after a historic number were executed in Saudi Arabia last year.
"This was never just about football," he continued. "It's about leveraging the worldwide reputation of the Premier League to cleanse a brutal human rights record."
A local MP was the first to admit she "would not select Saudi Arabia as the owners of the club".
However, she stressed supporters were the "final individuals who get to choose".
"With financial prioritization, which the Premier League have, those with the greatest wealth will end up winning the prestigious teams like Newcastle United," she said.
"However, nobody ought to justify, support, or rationalize Saudi Arabia's human rights record."
