Highlights
- Saudi Arabia's Public Investment Fund will control over 93% of EA under the proposed $55B buyout.
- The Saudi Arabia EA buyout allocates 5.5% to Silver Lake and 1.1% to Affinity Partners, with EA stating it will retain creative control.
- The EA Games Saudi Arabia acquisition would be the largest leveraged deal in the industry if approved by regulators.
Saudi Arabia’s Public Investment Fund (PIF) will control over 93% of Electronic Arts (EA) if regulators approve a $55B take-private deal, according to a new filing submitted in Brazil. The Public Investment Fund would hold 93.4% of the company, with Silver Lake taking 5.5% and Affinity Partners 1.1%.
The consortium, announced earlier this year, brings together the Public Investment Fund, Silver Lake, and Affinity Partners. EA has said in SEC filings that the transaction will not result in “immediate” layoffs.
The company also told employees it will retain “creative control” under the new owners. JP Morgan Chase Bank will supply $20B in debt financing, while the investor group contributes $36B.
Saudi Arabia’s Public Investment Fund EA Buyout Structure
The ownership split was not detailed when EA confirmed the acquisition in September 2025. Reporting from The Wall Street Journal noted that allocating over 93% to a sovereign wealth fund is considered unusual in a leveraged buyout.
Analysts cited by the publication estimated that the Public Investment Fund will need to contribute about $29B to match its final stake.
Silver Lake’s 5.5% reflects its position as the private equity partner in the consortium. Affinity Partners’ 1.1% aligns with its investment relationship with the Saudi government and its focus on U.S. and Israeli companies.
EA
Saudi Arabia EA Buyout and Industry Impact
The Public Investment Fund has increased its presence in the global games industry over recent years, taking positions in Nintendo, Koei Tecmo, Capcom, Nexon, and Take-Two before turning its attention to EA. The fund is chaired by Crown Prince, Mohammed bin Salman.
Advocacy groups, including Amnesty International and Human Rights Watch, have criticized Saudi Arabia’s human rights record, citing restrictions on dissent and the criminalization of LGBTQ+ identities. The Communications Workers of America has urged regulators to scrutinize the deal to address labor and national security concerns.
If approved, the buyout would be one of the largest leveraged acquisitions in the history of the games industry. Industry analysts previously suggested the move represents a major structural shift for EA but indicated that short-term operations are unlikely to change during regulatory review.
A completed acquisition would give Saudi Arabia's Public Investment Fund majority control of EA and mark a significant expansion of its presence in the games industry.
