American Esports organization 100 Thieves lost a significant amount despite earning $1.2 million for ruling the Call of Duty League World Championship last year.
In a podcast, John Robinson, president and chief operating officer of 100 Thieves, admitted that they are bleeding financially as they spent around $2.5 million in their Call of Duty Program last year.
Although the investment bore fruit, the amount of their investment was still way higher than the cash prize they won in the tourney.
“This was actually a really simple and straightforward challenge that we were facing. I will put it out there, we lost $2.5 million on our Call of Duty program last year when we were the world champions,” Robinson said.
To make matters worse, 100 Thieves had to part ways with their world champion players Dylan “Envoy” Hannon, Zack “Drazah” Jordan, and Kenneth “Kenny” Williams last month. Sam “Octane” Larew, meanwhile, decided to retire at 26 years old last June.
Matthew “Nadeshot” Haag, the founder and chief executive officer of 100 Thieves, explained that they have to shuffle their roster as part of their cost-cutting measure.
“We are making the best decisions with all the information that we have in front of us. I do not think that this era of 100 Thieves in Esports is going to be like this forever where we have to be very stringent about our spending and be as creative as possible,” Nadeshot said.