Electronic Arts is no longer a publicly traded company. The Madden maker was just purchased in a joint private equity deal by the Saudi Arabian government’s Public Investment Fund (PIF), Jared Kushner’s Affinity Partners, and Silver Lake. The all-cash transaction is valued at $55 billion. EA announced the completion of the deal on Tuesday.
It recently became clear that the deal would proceed after EA filed a document with the U.S. Securities and Exchange Commission confirming that the transaction had received the necessary regulatory approval. “As of July 30, 2026, all regulatory approvals required to complete the Merger have been obtained. Electronic Arts currently expects the Merger to close on or about the close of trading on August 4, 2026,” the document reads. One of the last roadblocks to the deal was the European Commission, which approved the transaction on July 23.
Who is involved in the deal?
The three partners in the deal are the PIF, Silver Lake, and Affinity Partners. Silver Lake is a tech-focused investment firm based in New York City and Menlo Park, California. It was founded in 1999, and as of Dec. 31, 2025, had $102 billion in assets under management (AUM), putting it in the top 25 private equity firms by AUM.
Affinity Partners is an American investment firm founded in 2021 by Jared Kushner, who is Donald Trump’s son-in-law. It had $5.4 billion in AUM as of 2025. The firm is overwhelmingly financed by Saudi Arabia’s Public Investment Fund, and has been the subject of controversy and government inquiries due to Kushner’s direct dealings with Middle Eastern governments as an envoy for the second Trump administration.
The Public Investment Fund is a state-owned sovereign wealth fund of Saudi Arabia. It was created in 1971 and is overseen by Crown Prince Mohammed bin Salman, the country’s de facto ruler. According to the PIF’s website, it manages $900 billion in assets.
Why is the PIF buying EA?
In recent years, the PIF has increased its influence in the video game industry by purchasing and investing in numerous companies. It has a 97% stake in publisher SNK, and owns minority stakes in major publishers like Activision Blizzard, Capcom, Embracer Group, Nintendo, and Take-Two. It also owns Savvy Game Group, which has purchased companies like Scopely. Scopely previously acquired Pokémon Go, Pikmin Bloom, and Monster Hunter Now.
The PIF has said that it is investing in the video game industry to help diversify Saudi Arabia’s economy, which has historically been dependent on oil exports. However, many have seen the move as a form of “sportswashing,” which seeks to sanitize the country’s image on the global stage through soft power. The PIF has invested in numerous sports leagues and other forms of entertainment, and critics see this as a means of distracting from its long list of human rights abuses, including exploitation of migrant laborers, enforcement of anti-LGBTQ laws, and the silencing of political opponents — like the alleged murder of Washington Post journalist Jamal Khashoggi.
What does this mean for EA?
EA has publicly stated that the company will “maintain creative control” and continue its “track record of creative freedom and player-first values” under its new owners. “The Consortium believes in our vision, our leadership and the strength of our teams. They are investing in EA because they believe we are uniquely positioned to lead the future of entertainment,” the company wrote in an FAQ.
EA CEO Andrew Wilson, who made $38 million last year — in part on the back of Battlefield 6’s success while his company laid off the game’s developers — said in response to the deal, “Our values and our commitment to players and fans around the world remain unchanged.” Many employees at the company remain unconvinced. “Andrew Wilson basically said ‘f you’ to all women and LGBTQ employees at EA with this deal,” an anonymous EA worker told Game File last year. Many expect that the Saudi Arabian government’s conservative politics will impact the content of EA’s games, particularly when it comes to franchises like The Sims, which has long allowed in-game same-sex relationships.
The fears aren’t unfounded either, as the PIF has seemingly influenced development in the past. Fatal Fury: City of the Wolves, which was created by the PIF-owned publisher SNK, includes several guest characters whose inclusion only makes sense given their Saudi ties. The game features real-world soccer player Cristiano Ronaldo and DJ Salvatore Ganacci as playable characters. Both figures have nothing to do with the Fatal Fury series, but Ronaldo played in a PIF-funded league, and Ganacci has performed at festivals and events in Saudi Arabia.
While only time will tell if and how the Saudi Arabian government influences EA, the PIF has proven a relatively mercurial investor in entertainment: It recently cut funding for its LIV Golf tour and sold one of its soccer teams. In the meantime, EA will become a privately held company. It may no longer be beholden to public shareholders, but it’s difficult to imagine this alternative will be an improvement.
