"Roman Abramovich has parked his Russian tank in our front garden and is firing £50 notes at us."
It was 20 years ago this week that Arsenal’s vice-chairman David Dein came out with that comment at the Champions League draw.
Two decades on, Saudi Arabia are the money men of modern football – and they’ve come with fighter jets. Plus their ‘pilots’ wouldn’t do you-know-what with £50 notes.
- Roberto Firmino hits hat-trick on Saudi Pro League debut
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It’s not just one club spending unprecedented amounts, it’s a nation-state.
Arsenal went on to complete their incredible ‘Invincibles’ league campaign in 2003-4, winning 26 and drawing 12 matches to top the table unbeaten – 11 points clear of…Chelsea.
Yet it was the Blues of London who enjoyed far more success over the next two decades, winning five Premier Leagues (including in 2005 and 2006) and two Champions Leagues, as well as two Uefa Cups/Europa Leagues and five FA Cups. Arsenal only won the latter after 2004.
Along with the 2002/3 English champions Manchester United, Arsenal and Chelsea were at that CL draw with representatives of Newcastle United.
The Toon Army are back amongst the big boys at last thanks to excellent management and shrewd signings, bankrolled by an influx of Saudi money since a takeover in October 2021.
However, this summer they’re far from the only English club benefitting from, or at least receiving, Saudi Arabian wealth.
Liverpool have taken Saudi money, more than £50m of it, for Fabinho and Jordan Henderson, although the departure of both those experienced midfielders was certainly not in manager Jurgen Klopp’s plans.
Manchester City got £30m for Riyad Mahrez and £23.5m for Aymeric Laporte, Chelsea banked around £35m for Kalidou Koulibaly and Edouard Mendy from Saudi clubs, while N’Golo Kante went there on a free transfer.
Newcastle themselves sold Allan Saint-Maximin, for at least £25m, while Wolves got £47m for Ruben Neves, and Manchester United off-loaded Alex Telles.
Fulham were forced to sell their talismanic striker Aleksandar Mitrovic, although the blow was softened by receiving £50m from Al Hilal.
Perhaps the most worrying transfer for European football has largely been overlooked, though.
Gabri Veiga went from Celta Vigo to Al Ahli, who triggered his release clause of E40m. The midfielder had reportedly been close to signing for new champions of Italy, Napoli, for E36m – but it wasn’t just the higher fee which swung the deal for the Saudis but a salary five times what he was being offered to go to southern Italy.
Gabri Veiga is just 21 and a Spanish U21 international.
He had also been linked with Real Madrid, as well as their successors as champions of Europe, Manchester City, and Liverpool, who won the English and continental titles in 2020 and 2019 respectively.
Al Ahli is one of the four clubs now 75 per cent owned by Saudi Arabia’s Public Investment Fund (PIF) – the others are Al Hilal, Al Ittihad, and Al Nassr.
The last-named signed Cristiano Ronaldo last year from Manchester United, but he was clearly past his best and Erik ten Hag wanted his disruptive influence away from Old Trafford.
Most of the big name signings this summer seemed to be players earning one last, admittedly humongous payday: 35-year-old Karim Benzema, 33-year-old Henderson, 32-year-olds Kante, Koulibaly, and Mahrez, 31-year-olds Mendy, Sadio Mane, and Roberto Firmino, 30-year-old Marcelo Brozovic. Neymar Jr, for all his immaturity, is actually 31.
Gabri Veiga is different though.
His age, his potential.
If Saudi clubs start signing more players like that then the English league should be extremely worried.
They should already be pretty worried.
The ‘Greed is Good’ League, which outspent all its European rivals combined this summer – Spain, Italy, Germany, France – is no longer the only big dog sniffing around.
Besides Neves and Saint-Maximim, who are both 26, and 29-year-old Laporte, other players in their 20s who’ve gone to Saudi Arabia this summer include Jota from Celtic, Sergej Milinkovic-Savic (Lazio), Seko Fofana (Lens), Malcom (Zenit St Petersburg, admittedly), Moussa Dembele (Lyon), Jack Hendry (Club Brugge), Otavio (Porto), and Franck Kessie (Barcelona).
At present, most youngish, ambitious players will still want to play in the Premier League, La Liga, Serie A, the Bundesliga, or Ligue 1.
There’s still oodles of cash washing around the English Premier League, at least at the well-run clubs, and also at Chelsea.
However, England is no longer certain that it can pay the biggest transfer fees and the largest salaries.
There was apparent interest from Saudi Arabia in Liverpool winger Luis Diaz, who’s only 26.
Of even greater concern for Klopp is that while the English transfer window closes at 11pm this Friday, September 1, the Saudis can continue buying players until September 20, although its Pro League clubs apparently only have until September 7 to register signings.
Liverpool’s star attacker Mo Salah has been strongly linked with Al Ittihad and his desire to stay at Anfield and the club’s hold on him may both be tested by a huge fee and massive wages.
Funnily enough, Newcastle, who are 80 per cent owned by the Saudi PIF, are limited in what they can spend by Financial Fair Play (FFP) regulations, which still have some teeth, even if clever and cunning clubs can get around those.
There are no such limits on Al Ahli, Al Hilal, Al Ittihad, and Al Nassr, and other loaded Saudi clubs.
The next few days will be hectic for English clubs, with the likes of Manchester City, Manchester United, Liverpool, and (probably) Chelsea all still in the market to bring in players.
The week or so after that will be a time for sweaty palms and squeaky bums, as Saudi clubs move for more players.
There will be some interest welcomed, of course, as the likes of Arsenal, Chelsea, Spurs, and Manchester United try to balance their books by off-loading players deemed surplus to their requirements.
Player power has never been greater and combined with the astonishing wealth of Saudi Arabia.
It’s highly unlikely that this is going to be another boom and bust like the NASL, the North American Soccer League in the USA in the 70s and 80s; even it was only attracting players past their prime.
The Saudis have already signed players of higher standard and lower age than anticipated.
The response might be an attempt to revive the European Super League concept.
What is certain is that those fighter jets aren’t going to run out of fuel for years to come.
