EA sold

Putting the moral concerns of a Saudi takeover aside for a moment, the fact is the Saudis have invested heavily in both F1 and gaming so I don't see any reason why they would cancel an F1 game series.

I hope you're right. It would be a shame to lose the F1 games.

The license expires this year, but there is no news yet that EA wants to renew it.

EA picked up the option until 2027 and the sale shouldn’t affect licensing. 

The deal I believe finalizes next September and the company will go private. 

Not yet, after all, a source directly from EA hasn't confirmed it. 

https://insider-gaming.com/ea-retracts-option-confirmation-on-f1-licensing-deal/

I wonder if it’s a case of the option being done but they wanted to announce it at a specific GP or event, or if the deal hit a snag where they thought they picked it up but F1 licensing said wait a minute. 

I'm pretty certain they will continue with the F1 series of games. I personally don't see any reason whatsoever for them to stop just because the company has been sold.

If they extend the license, I expect they will announce it during the Las Vegas GP. Hopefully we won't lose the F1 games.

More than likely, they were putting together plans to make an announcement on renewing the license, but then they got word the company might be sold so they decided to hold off for a while, but enough people had already been told that it leaked out anyway, which forced them to make the retraction.

F1 is at its peak. It would be foolish to give up that license.

I think there won't be change very soon. We still will get the same overpriced, buggy mess we got the last years with all the flaws and shiny podium pass.