combination of good national system in terms of infrastructure, coaching standard at all levels...develop a healthy participatory culture...have lots of money and outside investment.
If the Saudi's keep doing what they are doing and are able to keep enticing a similar standard/volume of foreign player there, they probably will have improved their league. It'll just be in a narrow, realistic manner such as better consistent results in Asian Champions League than they had before. The idea of them becoming a league to compete with the standard of the bigger European ones was always unrealistic. Their setup for improving the standard of domestic talent, and the quality of Asian football in general would need to take a...great leap forward before that is feasible. They are too isolated from the centre of club football despite being able to throw vast amounts of money around; the money won't matter unless a number of the other competitive asian leagues do the same, while at the same time getting it right with their own domestic improvement.