The massive EA buyout may have left Saudi Arabia's PIF low on cash

Reportedly, the Electronic Arts deal made by Saudi Arabia’s Public Investment Fund might not end up being the saving grace the game publisher thought. Earlier this month, a report suggested that EA, the publisher of Battlefield 6, as well as other major franchise titles like Dragon Age: The Veilguard, Apex Legends, and several sports series, is “drowning” in debt. News of PIF’s buyout of EA in September put the price at $55 billion, making it “the biggest leveraged buyout ever.” Not just in gaming. However, a new report from The New York Times suggests that the PIF is not as stable as once thought, and may even be running out of cash following this deal with EA.

Saudi Arabia’s PIF may be running out of cash following the massive EA buyout

The massive buyout of EA would put a dent in nearly any fund, but according to The New York Times, sources say that, combined with other floundering investments, this might put the notorious fund in jeopardy. Representatives in the U.S. have already begun sounding the alarm about PIF’s buyout of EA, warning that the data of 700 million Americans could end up in the hands of a “repressive, authoritarian government.” With some even considering it a threat to national security. But that didn’t stop the crown prince of Saudi Arabia, Mohammed bin Salman, from paying a friendly visit to the White House last week.

Saudi Arabia’s Public Investment Fund has had a strong interest in the video game space for a long time. In 2024, the Esports World Cup, the largest esports event in history, was held in Riyadh, Saudi Arabia’s capital city. Not to mention many other investments in video games in the past, nearly including an investment that could have saved the now infamous Embracer Group, before that deal fell through.

But according to The New York Times report, many other PIF investments are proving problematic, so it does not fall exclusively to the EA buyout. It’s yet to be determined how successful the partnership will be, but PIF may not turn out to be the financially stable buyer EA needed. Apparently, behind the scenes, “PIF is actively restructuring its operations.” The crown prince has already fired the head of a reportedly imperiled company called Neom, which is apparently a project with a goal to turn a northern region of Saudi Arabia into a “utopian region… that was to feature robot workers, a ski resort, and beaches of crushed marble…” The fund also has a struggling coffee company, an electric vehicle start-up “that has yet to deliver a car,” and “a cruise line with one ship.”

There is no telling exactly what the future holds for Electronic Arts. PIF will most likely find ways to stay afloat, but all its investments likely won’t be as lucky. The publisher claims it will retain creative control, but we will have to see over the coming months and years if that remains true. Even before this, layoffs and restructuring at EA were already a worry; this may only make that more of an inevitability.

Battlefield 6

October 10, 2025

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