Several London football clubs are apparently being targeted for takeover by Middle Eastern billionaires after Saudi Arabia decided to privatise its own professional league.

Saudi investors could now buy British clubs and use them as a “tie-in” with sides in a private equity-backed league in the kingdom. At present, most teams in the Saudi Professional League are government-owned.

The country’s Council of Economic and Development Affairs recommended the establishment of a private professional football league after consultancy firm Deloitte conducted a year-long feasibility study into the privatisation of its sports clubs.

The move is expected to increase investment to build stadiums and bring in foreign transfers, according to Saudi reports.

One Saudi investor said today: “I know of two or three clubs around London that are being looked at by Saudi consortiums and individuals who want to tie them in with clubs at home. It would be a perfect fit.

“It would be good for players, coaches and technical experts too, as we would need British expertise to help set up the league.”

Saudi Arabia is also planning to create a sovereign wealth fund with assets of about $2 trillion (£1.6 trillion), some of which could be earmarked for British clubs.

Saudi football insiders say many investors are keen to take over Championship clubs, as securing them promotion to the Premier League would be highly lucrative. Last week it was reported that a Saudi group wanted to buy League One title-chasers Bolton Wanderers.

Middle Eastern money is already a significant presence in European football. Manchester City are owned by the Abu Dhabi United Group and Paris Saint-Germain by Qatar Sports Investments (QSI), and Barcelona ended their historic ban on corporate sponsorship to sign a five-year €150 million deal with QSI in 2011.

Sports investments by countries such as Qatar and the UAE are part of strategic moves to diversify their economies away from oil.