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The Nickmercs vs. Nadeshot saga continues. Nick “Nickmercs” Kolcheff suddenly left 100 Thieves on May 24, and at first, the departure appeared friendly. As time went by, though, Nick opened up about his reasons for leaving, stating that Matthew “Nadeshot” Haag broke promises made between the two. The exact details of the promise remain unknown, but this story continues to expand as Nick keeps talking about new details on his stream and Twitter.

Equity issues

On May 29, esports consultant and journalist Rod Breslau said he spoke with Nickmercs regarding the split. Allegedly, a five percent equity agreement was made between Nickmercs and Nadeshot. The two made this pact early on, back in the beginning days of 100 Thieves. A couple of years later, this verbal agreement no longer stands. Nick claims to not have taken any pay in the early years of the organization, too, having hoped his payment would come in the form of equity later on.

In the beginning, five percent of 100 Thieves did not mean much. Since then, the company grew into a multimillion dollar organization. According to Forbes, 100 Thieves is valued at approximately $100 million. A five percent stake in the company means Nickmercs would be due $4-5 million upon his exit.

In a response to Daniel “KEEMSTAR” Keem, Nick confirmed this alleged equity arrangement in 100 Thieves on Twitter.

Things can never be that simple, though. Nickmercs is upset that a friend of his broke their agreement. However, the initial equity agreement happened before 100 Thieves became a huge esports organization. Nowadays, the company has many investors, including Drake, Dan Gilbert, and Scooter Braun. These additional owners only complicate the situation further.

Nadeshot’s side

Unfortunately, Nadeshot refused to comment on the situation on his stream. He chose to keep the situation behind closed doors. In all likelihood, this is the best course of action for the CEO and owner of 100 Thieves. The company gains nothing from getting into a war of words with Nickmercs. And since Nadeshot decided not to comment, it is unknown whether Nickmercs held up his end of the agreement or if he did something in the past few years to nullify this arrangement. Perhaps with new developments, Nadeshot may change his mind and make a public statement.

Whatever the case, the split happened, and only time will tell if the situation is over. Nick said he tried to keep the disagreement private, but nothing came from it. Now, the gaming community waits to see if a lawsuit comes out of this split.

Check back with Daily Esports to keep up with this story and for much more esports news!

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