100 Thieves: The Hype Brand That Left League and Won Valorant

On 12 July 2026, in Paris, a Valorant team in black and red came back from 9-3 down on Ascent to win the map 14-12 in overtime and close out NRG 3-1. The prize was $600,000 and the Esports World Cup Valorant title. For 100 Thieves, a club better known for sold-out hoodies than for trophies, it was the first major international win in its history.

It capped a strange few years. 100 Thieves rose faster than almost any esports brand, raised money from celebrities at a valuation of hundreds of millions of dollars, then cut staff, spun off side businesses and walked away from League of Legends. Its Valorant title is a reminder of what the club was built to do.

Nadeshot's heist

100 Thieves was founded in November 2017 in Los Angeles by Matthew "Nadeshot" Haag, a former Call of Duty pro and one of the biggest streamers of his time. From day one it sold itself as a lifestyle brand as much as a team, with apparel drops that sold out in minutes and a slick media operation.

Money followed. Dan Gilbert, owner of the Cleveland Cavaliers, invested early. In 2018 the rapper Drake and music manager Scooter Braun co-led a $25 million Series A and became co-owners. A $35 million Series B came in 2019 and a $60 million Series C in December 2021, when Forbes reported a valuation of $460 million. The club built a 15,000-square-foot headquarters in Culver City, once known as the "Cash App Compound."

Wins in Call of Duty and League

The competitive results were real, if uneven. In Call of Duty, the club won CWL London and Anaheim in 2019 and then, as the Los Angeles Thieves in the franchised Call of Duty League, took the 2022 championship.

In League of Legends, 100 Thieves reached the LCS final in its very first split in 2018, where Team Liquid swept it. It finally won the LCS in 2021 and qualified for Worlds.

The hard years

Then the money tightened across esports, and 100 Thieves felt it. It laid off more than ten content staff in July 2022, about 30 employees in January 2023 and roughly 20% of its workforce in November 2023, when it also said it would spin off its energy drink and game studio businesses to focus on esports and apparel. In December 2024 Nadeshot said he was stepping back to focus on content creation.

League of Legends went next. In 2024 the club sold its permanent LCS franchise spot and played 2025 as a provisional guest team, by Riot's invitation, pending a long-term partner. When Riot chose another partner for 2026, 100 Thieves left. Its last League match was a loss to T1 at Worlds 2025 in October. Its VP of esports summed up the eight years: "We didn't just build teams. We built a legacy."

Valorant: the long road to Paris

Valorant has been 100 Thieves' most consistent project. It entered the game in 2020, won Americas Stage 1 in 2024 and then rebuilt around rookies, with Jordan "vora" Pulwer as in-game leader alongside veteran Peter "Asuna" Mazuryk, who has been with the club for more than five years.

The Paris run was the payoff. 100 Thieves went unbeaten through the event and beat NRG in the grand final, with Matthew "Cryocells" Panganiban named MVP after a 65-kill final. The win also earned 1,000 Club Championship points. It was Asuna's first major international trophy. For the rest of the Valorant season, see our VCT 2026 review.

Why it matters

100 Thieves is the clearest case study of the 2017-2021 esports boom: celebrity investors, streetwear, big valuations and fast expansion, followed by cuts when the money slowed. Its survival, and its first big trophy, suggest the brand still has value when it focuses. It now plays Valorant, Counter-Strike 2, Apex Legends (with Crazy Raccoon as "Crazy Thieves"), Rainbow Six Siege and Marvel Rivals.

WGC's take: For years 100 Thieves was a clothing brand with teams attached. In Paris, for one night at least, it was a team first.