I don't even really understand the endgame with oil dictatorships pumping money into sport. To raise their profile? So more people go on holiday there? That income would be dwarfed anyway by the oil money. Sport doesn't gain you political power. Just because they're raging egomaniacs who think buying stuff makes them look amazing?
As you say, it's all very depressing as to where we are as a species but I'll invoke Pipnasty's Law and conclude all the top brass of these places have personality disorders.