100 Thieves: From Esports Dominance to Strategic Restructuring – What Happened and Where They Stand in 2025
100 Thieves, one of North America's most prominent esports organizations founded in 2017 by former Call of Duty pro Matthew "Nadeshot" Haag, has undergone significant transformations over the past few years, from multiple championship wins to major roster changes, business restructuring, and pivotal departures from major esports titles. Today, the organization continues to compete across multiple titles while strategic focusing on emerging opportunities in competitive gaming and lifestyle brand expansion.
The Rise of 100 Thieves (2017–2021)
100 Thieves was founded in November 2017 by Matthew "Nadeshot" Haag, an iconic figure in competitive Call of Duty who had won MLG X Games gold medals and was named 2014 Esports Athlete of the Year. The organization's explosive growth came immediately after it received a multimillion-dollar investment from Cleveland Cavaliers owner Dan Gilbert and Quicken Loans, transforming it from a grassroots esports team into a fully-fledged professional organization with infrastructure, capital, and legitimacy.
The early years were marked by aggressive expansion and dominant performances. 100 Thieves made headlines when they signed major free agents across multiple titles, establishing themselves quickly in League of Legends, Valorant, Counter-Strike, and Call of Duty. Most notably, the organization's Valorant roster won the inaugural Valorant First Strike tournament in 2020, defeating TSM in the grand finals, which positioned them as one of the premier teams in competitive Valorant. In League of Legends, 100 Thieves captured their first LCS championship in 2021, cementing themselves as a championship-caliber organization with consistent top-tier performance.
The Decline and Organizational Challenges (2022–2024)
However, the trajectory began shifting around 2022–2023, with 100 Thieves facing internal turmoil, management restructuring, and inconsistent competitive results across their franchised titles. In January 2023, the organization laid off approximately 30 employees, including several lead staff members, signaling deeper financial or strategic pressures. This was followed in November 2023 by another wave of workforce reductions, affecting 20% of the organization's workforce, including employees in their game studio and energy drink business segments.
Critically, 100 Thieves announced that these business units—their game studio and energy drink brand—would be spun off as separate entities so the organization could refocus on its core esports and apparel operations. This decision revealed that the organization had been overextended across multiple business lines, and leadership needed to consolidate to remain competitive and profitable in professional esports.
In their Valorant roster, the team experienced dramatic turnover. After winning Valorant First Strike, the team cycled through multiple rosters without recapturing championship-level form. Key players like steel, nitr0, dicey, b0i, FrosT, and eventually even longtime star Hiko departed or transitioned to content creation. The roster instability reflected both competitive struggles and a broader decline in 100 Thieves' ability to attract and retain tier-one Valorant talent.
In League of Legends, 100 Thieves' results deteriorated significantly. After their 2021 LCS championship, subsequent seasons saw diminished performance, roster instability, and playoff exits. The team cycled through multiple configurations, signed veterans like Yiliang "Doublelift" Peng and Søren "Bjergsen" Bjerg for the 2023 season, yet continued to underperform in the LCS and later the reformed LTA (League of Legends Championship of The Americas).
The LCS to LTA Transition and Withdrawal (2024–2025)
In October 2024, 100 Thieves made a critical announcement: they would sell their permanent LCS franchise spot rather than continue as a full partner in the revamped regional league. However, Riot Games invited them to participate as a "provisional guest team" for the 2025 season during the transition from the LCS to the newly reformed LTA (which merged the North American LCS with Brazil's CBLOL and Latin America's LLA).
This compromise arrangement revealed 100 Thieves' reduced standing in the League of Legends esports ecosystem. The "provisional guest" status was explicitly temporary, meant to help facilitate the league's reorganization while 100 Thieves maintained competitive presence without the security of a franchised slot.
By July 2025, 100 Thieves announced they would officially exit the LTA after the 2025 season concludes, ending their nearly decade-long tenure in League of Legends that began with their franchise debut in the 2018 LCS Finals. The organization's statement explained the decision as a natural conclusion to their temporary guest arrangement, as Riot Games pursued alternative partners for the league's long-term future.
Current Operations and Active Titles (2025)
Despite exiting League of Legends, 100 Thieves remains a significant force in competitive esports across multiple titles:
Valorantyoutube
100 Thieves' Valorant roster was bolstered in October 2024 with the signing of Alexander "Zander" Dituri, a highly respected player, joining Boostio (IGL), Cryo, Asuna, and eeiu. Boostio, formerly of Evil Geniuses where he won Valorant Champions in 2023, brings championship pedigree to the team. This roster represents 100 Thieves' commitment to remaining competitive in Valorant despite challenges in other titles.
Call of Duty League (LA Thieves)
100 Thieves operates LA Thieves in the Call of Duty League, maintaining a franchised position in what is the organization's original esports passion under Nadeshot's leadership.
Apex Legends
In November 2024, 100 Thieves announced a refreshed Apex Legends roster featuring Tyler "Dezignful" Gardner, Noyan "Genburten" Ozkose, and content creator Timothy "iiTzTimmy" An. However, after elimination in the group stage of the 2024 Apex Legends Global Series World Championship, team composition changes appear likely.
Counter-Strike 2
In November 2025, 100 Thieves announced their return to competitive Counter-Strike for the first time since October 2020, forming a team sponsored by the online casino Roobet and competing under the name "100 Thieves Roobet." This marks a strategic re-entry into the Counter-Strike ecosystem after a five-year absence.
Street Fighter 6
100 Thieves maintains a presence in fighting game esports through Street Fighter 6 competition.
Marvel Rivals
However, in November 2025, 100 Thieves announced they would be leaving the Marvel Rivals competitive scene, releasing their entire roster in that title.
Esports World Cup Partnership
100 Thieves has secured a partnership as a "partnered team" with the Saudi Arabian government-backed Esports World Cup, an emerging mega-tournament providing additional competitive opportunities and revenue streams.
Strategic Restructuring and Business Refocus
The departures, layoffs, and business unit spin-offs reveal a fundamental strategic shift: 100 Thieves has transitioned from an aggressive, expansion-heavy organization trying to dominate multiple gaming titles simultaneously to a leaner, more selective competitor focused on sustainable competitive positioning and brand identity.
By spinning off their game studio and energy drink business, 100 Thieves eliminated the complexity and capital drain of non-core business ventures. This allowed leadership to concentrate resources and expertise on esports operations, content creation, and lifestyle apparel—areas where the brand has genuine equity and audience engagement.
The organization has also been intentional about brand partnerships and sponsorships, securing deals with entities like Roobet for Counter-Strike and partnering with the Esports World Cup, diversifying revenue beyond traditional franchised league revenue and sponsorships from endemic gaming companies.
Where 100 Thieves Stands Today
As of late 2025, 100 Thieves remains a mid-to-upper tier North American esports organization with a focused competitive portfolio, rather than the all-encompassing esports giant it aspired to be in 2017–2021. The organization maintains strong competitive teams in Valorant and Call of Duty, has re-entered Counter-Strike, and competes selectively in emerging titles like Marvel Rivals (though now exiting) and Apex Legends.
The brand still commands significant influence in esports content creation and lifestyle apparel, particularly through Nadeshot's continued presence and the organization's content creator network. However, the loss of League of Legends—a title that provided consistent visibility, sponsorship opportunities, and global esports relevance—represents a notable step down from their former status as a top-tier multi-title organization.
What this means: 100 Thieves experienced the growing pains common to many esports organizations that expanded too aggressively without sustainable revenue models. The decision to exit League of Legends, downsize operations, and focus on a curated roster of titles is ultimately a pragmatic business choice prioritizing long-term viability over short-term ambition. Whether the organization can stabilize around its current footprint and regain championship momentum in Valorant or other titles remains a defining challenge heading into 2026.
