“The proposed transaction poses a number of significant foreign influence and national security risks, beginning with the PIF’s reputation as a strategic arm of the Saudi government,” the Senators wrote in their letter. “As Saudi Arabia’s sovereign wealth fund, the PIF has made dozens of strategic investments in sports (including a bid for the U.S. PGA Tour), video games (including a $3.3 billion investment in Activision Blizzard), and other cultural institutions that ‘are more than just about financial returns; they are about influence.’ Leveraging long term shifts in public opinion, through the PIF’s investments, ‘Saudi Arabia is seeking to normalize its global image, expand its cultural reach, and gain leverage in spaces that shape how billions of people connect and interact.’ Saudi Arabia’s desire to buy influence through the acquisition of EA is apparent on the face of the transaction—the investors propose to pay more than $10 billion above EA’s trading value for a company whose stock has ‘stagnated for half a decade’ in an unpredictably volatile industry.”