I wouldn't be surprised if we see a new team like Wildcard in the European Champions League soon. Saudi Arabia truly values football and spends a lot of money on it. They'll want to play in the European Champions League to gain more visibility.
I really hope this will never happen. The day a Saudi Arabian team plays in the European Champions League is the day I will stop watching football because it would be ridiculous. Saudi Arabia is in Asia, they can't buy their participation in a competition played in another continent.
Considering that Israel also qualifies for and plays in the Champions League qualifiers in the Middle East, Saudi Arabia isn't far behind geographically. Perhaps, as I mentioned, we can even track them in European competitions through an app. However, regarding the World Cup, it's still unclear which teams will qualify after the qualifiers. More teams will be playing in this World Cup, and some may be making their debut in the World Cup.
Israeli teams (and the national team) play in Europe because they have problems with everyone in the Middle East. And considering what they keep doing they are having more and more problems also in Europe so Israel, both as a national team and clubs, shouldn't be playing in any competition: not for Asia and for sure not for Europe. They have nothing to share with Europe, they are there just because of politics. I'm European and I don't agree with Israel playing amongst us.