Earlier today, former professional Call of Duty player Matthew “Nadeshot” Haag announced that 100 Thieves would not be participating in the competitive CoD scene next year. Haag, who is the founder of 100 Thieves, made the announcement via Twitter in a heartfelt video. Haag doesn’t waste much time getting to the announcement. “100 Thieves will not be a part of competitive Call of Duty next year. We will not be a part of the CDL, we will not have a team competing for our brand.” You can check out the full video in the tweet below.

It is with a very heavy heart we announce that 100 Thieves will not be participating in competitive Call of Duty in 2020. pic.twitter.com/cdJD9DdUvQ

— 100 Thieves (@100Thieves) August 29, 2019

Basically, the decision to sit out next year comes down to money. “The fact of the matter is the CDL is incredibly expensive,” says Haag. “Not only are there a lot of up-front costs, but there are a ton of operational costs that we’ll be spending money on, and resources on, for years, and we are just not equipped, and not prepared to make that jump.” In the video, he notes that 100 Thieves is a company, first and foremost. 100 Thieves employs roughly 30 full-time employees, as well as numerous part-time employees, contractors, content creators, as well as players and coaches for other eSports, and they all need to make a living.

What makes the message all the more disappointing is the fact that 100 Thieves placed 2nd in the past Call of Duty World League Championship earlier this month. Their team almost achieved the impossible, getting knocked to the loser’s bracket in the first round and making it all the way to the finals, only to fall to eUnited in a close matchup.

On a slightly more positive note to the video, Haag says, “I wouldn’t say this is the end of my participation, of 100 Thieve’s participation, in Call of Duty.” While it is sad to hear that the team will be missing from the competitive scene next year, the future is open for appearances past 2020.