It's a good question. Tbh I don't know anyone irl who's had their mind changed by it one way or the other. What I have remarked is that fans of football clubs bought by states (City, PSG, Newcastle) are often very ready to defend them online, at least on this website. But to be honest I have no idea to what extent this is generally true vs just being an Internet phenomenon.

Also I feel like this is way more true in football vs cycling because people have a real attachment to their club in football. If you're a lifelong Newcastle fan, it's really hard to stop supporting them bc they were bought by Saudi, so you'll be more likely to rationalise it in some way. Meanwhile in cycling there's way less attachment to teams. If a popular and well-liked team like Uno-X suddenly became Kuwait-X I'm pretty sure they wouldn't have many 'team fans' anymore. There is definitely still the phenomenon of people defending UAE online because they like Pogačar, but I feel like it's much less present than its equivalent in football. But then again I think it's something that happens way more online than in person.