Sultan Al-Qassemi, a UAE-based commentator on Arab affairs, analyzes the impact of the Muslim Brotherhood’s nomination of Khairat Elshater for the Egyptian presidency on Saudi Arabia and Qatar.
Al-Qassemi theory is that Saudi is anti-Elshater (fear of Muslim Brotherhood and close ties with the Mubarak regime evidenced by Omar Suleiman's recent visit to the Kingdom) and Qatar is pro-Elshater (embraced the Muslim Brotherhood for years and close ties with Elshater as evidenced by his appearance on Al Jazeera and his recent visit to the tiny state). Excerpt from the article below:
"There is no denying the keen interest that these two wealthy and influential Gulf States will be paying to the Egyptian presidential elections. To Saudi Arabia, the notion of an influential Arabic Islamic leaning republic offering competing ideologies to its own Wahhabi teachings could pose a threat to its dominant role in the Sunni Muslim world. To Qatar, a relationship that it has carefully cultivated over decades may finally be bearing fruit, turning a once cold relationship with Egypt into a strategic and valuable partnership."
I think Al-Qassemi is missing an important point. When it comes to Saudi Arabia there are two factions: (a) the political regime and (b) the Islamic regime. I have no doubt that the former is quite concerned with the rise of the Muslim Brotherhood and the Salafis in Egypt as it provides their counterpart in Saudi with a model to replicate. On the other hand, the latter supports and funds the Muslim Brotherhood and Salafis for religious reasons (i.e., application of Sharia law in the most populous country in the Arab world) and political reasons (i.e., if the Brotherhood’s governing model succeeds in Egypt, it can succeed in Saudi or at least puts pressure on the King and his cronies).
Finally, the below excerpt from the article is quite telling:
So, why are the two Gulf States not releasing the money? I'd say they are either waiting for the IMF loan to be approved (i.e., Egyptian Government commit to a broad economic reform plan to ensure money will not be wasted) and/or as a bargaining tool (i.e., once the dust settles and a president is elected they will start negotiating conditional release of funds for specific political demands).
Releasing, or promising to release, the outstanding $13.5 billion providing a certain president is elected (this is usually done in a subtle way to not alienate the masses) would have a significant impact on the presidential election result.