Saudi Arabia Officially Acquires Publisher of ‘Madden’ and ‘Apex Legends’

Electronic Arts has officially transitioned into a privately held enterprise. The gaming titan behind the Madden NFL franchise has been acquired through a monumental $55 billion all-cash consortium buyout orchestrated by the Saudi Arabian government’s Public Investment Fund (PIF), alongside Silver Lake and Jared Kushner’s Affinity Partners. EA formally confirmed the finalization of the agreement on Tuesday.

The transaction’s conclusion followed a regulatory clearance disclosure submitted to the U.S. Securities and Exchange Commission. “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 filing specified. The European Commission served as one of the final legislative hurdles, granting unconditional clearance for the acquisition on July 23.

Who is behind the acquisition?

The buying syndicate is comprised of three distinct institutional entities: the PIF, Silver Lake, and Affinity Partners. Headquartered in New York City and Menlo Park, California, Silver Lake is a prominent technology-focused private equity firm established in 1999. By December 31, 2025, the firm boasted an estimated $102 billion in assets under management (AUM), cementing its status among the top 25 private equity enterprises globally.

Affinity Partners is an American private equity venture launched in 2021 by Jared Kushner, son-in-law to Donald Trump, holding an AUM of $5.4 billion as of 2025. The firm is predominantly funded by the Saudi sovereign wealth fund and has previously attracted significant scrutiny and legislative inquiries due to Kushner’s diplomatic engagements with Middle Eastern administrations.

Meanwhile, the Public Investment Fund functions as the sovereign wealth vehicle of the Kingdom of Saudi Arabia. Established in 1971, it operates under the direct oversight of Crown Prince Mohammed bin Salman, the nation’s de facto leader. According to official disclosures, the fund commands an estimated $900 billion in managed assets.

What motivates the PIF’s investment in EA?

Over recent years, the PIF has aggressively expanded its footprint across the global interactive entertainment sector. The sovereign fund holds a staggering 97% controlling stake in publisher SNK alongside substantial minority shares in industry giants such as Activision Blizzard, Capcom, Embracer Group, Nintendo, and Take-Two. Through its subsidiary Savvy Game Group, the fund has previously absorbed companies like Scopely—the studio responsible for managing titles such as Pokémon Go, Pikmin Bloom, and Monster Hunter Now.

While the PIF maintains that these gaming investments form part of a broader strategy to diversify the Saudi national economy away from oil dependence, detractors frequently characterize these maneuvers as instances of “sportswashing.” Critics argue that utilizing high-profile entertainment ventures and sports leagues serves to polish the nation’s international reputation, effectively masking systemic human rights concerns, including the mistreatment of migrant workers, strict anti-LGBTQ+ statutes, and the suppression of political dissent—epitomized by the assassination of journalist Jamal Khashoggi.

What lies ahead for Electronic Arts?

EA leadership has publicly reassured stakeholders that the organization will retain full creative autonomy, emphasizing a continued dedication to player-centric values. “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,” asserted company representatives in an official FAQ.

Chief Executive Andrew Wilson—whose compensation reached $38 million last year amid the launch of Battlefield 6 and subsequent studio layoffs—maintained that corporate standards remain unchanged. Nevertheless, internal sentiment appears deeply skeptical. “Andrew Wilson basically said ‘f you’ to all women and LGBTQ employees at EA with this deal,” an anonymous staff member revealed to Game File. Many personnel harbor deep concerns that conservative governmental frameworks will inevitably censor inclusive titles, particularly flagship franchises like The Sims, which historically champion same-sex romance.

Such apprehensions are far from baseless, given the PIF’s historical creative interventions. For instance, SNK’s Fatal Fury: City of the Wolves integrated prominent guest cameos specifically tied to Saudi interests—featuring professional soccer star Cristiano Ronaldo and DJ Salvatore Ganacci as playable combatants. While neither figure shares a narrative connection to the franchise, Ronaldo previously competed within a PIF-financed sports league, and Ganacci has routinely headlined entertainment festivals across Saudi Arabia.

While only time will reveal the true extent of the Saudi government’s influence over EA’s creative direction, the sovereign fund has historically proved to be a volatile patron within the entertainment sector, demonstrated by recent cutbacks to the LIV Golf initiative and the divestment of a premier soccer franchise. For now, EA enters a new era as a private entity—one insulated from public shareholders, yet facing an uncertain and controversial horizon.

Electronic Arts boss says ‘Our values and our commitment to players … remain unchanged’

Source: Polygon