It's worse.
The three first teams in the Saudi League are all owned by the government, and are allowed to "compete" against each other, buying any player they want with unlimited government funding. As a side show they are also subsidising Newcastle by giving them players on cheap loans and Chelsea by buying their overvalued players that nobody else would buy. It's going to become even better, with Al-Ahli just having been promoted from the second league: next year the four biggest clubs will be government-owned.
Long live fair competition, and human rights (allegedly).