The EU Just Gave Saudi Arabia’s $55 Billion EA Buyout the Green Light
The European Commission has approved Saudi Arabia’s Public Investment Fund (PIF) to acquire Electronic Arts in a deal worth $55 billion. That’s one of the last major regulatory hurdles cleared, bringing the biggest private leveraged buyout in history one step closer to reality.
The Commission ruled that the acquisition wouldn’t raise competition concerns, given the limited market overlap. With the EU’s blessing, the PIF can now move forward with the remaining approvals. If it passes, the deal will be the second-largest in video game history—only behind Microsoft’s acquisition of Activision Blizzard, a union that’s already seen thousands of layoffs.
Why Saudi Arabia Wants EA
The PIF is no stranger to gaming. It owns Savvy Games Group and has stakes in Nintendo, Capcom, Embracer Group, and Take-Two. It also controls 97% of SNK, the studio behind *Fatal Fury: City of the Wolves*. The fund’s official line is economic diversification—moving Saudi Arabia away from oil dependency. But critics see a familiar pattern: sportswashing.
By buying into global entertainment, the Saudi government hopes to burnish its reputation amid widespread condemnation over human rights abuses, the murder of Jamal Khashoggi, and anti-LGBTQ laws. The same playbook worked for sports leagues like the Saudi Pro League and LIV Golf. Now it’s gaming’s turn.
The deal involves not just the PIF but also private equity firm Silver Lake and Jared Kushner’s Affinity Partners investment firm. That’s a lot of deep pockets—and even more political baggage.
When Sportswashing Meets Creative Control
EA leadership has promised that the company will “maintain creative control” under new ownership. But there’s reason to be skeptical. The Saudi government’s influence already appeared in *Fatal Fury: City of the Wolves*, which features cameos from Cristiano Ronaldo (who plays in a PIF-funded league) and DJ Salvatore Ganacci (who has performed in the country). Those inclusions felt less like creative choices and more like state-sponsored product placement.
If the PIF can nudge a fighting game roster, imagine what it could do with EA’s massive portfolio—*Madden*, *FIFA*, *Battlefield*, *The Sims*. The line between entertainment and propaganda could blur fast.
Gamers Aren’t Buying It
Many players are already pushing back. Last week, the speedrunning charity event Games Done Quick (GDQ) canceled a sponsored stream with SNK after backlash over the company’s PIF ties. The event was meant to celebrate *Metal Slug*’s 30th anniversary, but GDQ pulled the plug mid-stream once the community called out the partnership.
That kind of resistance suggests the buyout won’t go unnoticed. Gamers are increasingly aware of where their money ends up, and a $55 billion deal is impossible to ignore.
What Comes Next
The European Commission was the biggest outside hurdle. With that cleared, the deal now faces final approvals from other regulators and the PIF’s own internal processes. If it closes, EA will become the crown jewel of Saudi Arabia’s gaming empire.
Whether that means more guest characters from Saudi-linked celebrities—or something more insidious—remains to be seen. But the industry’s biggest independent publisher is about to get a new owner with a very different agenda. The next few months will tell us how much creative freedom actually survives.
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