TSM topped the most recent Forbes esports valuation ranking at $540 million in May 2022. Two years later FaZe Clan, fourth on that same list at $400 million, changed hands in an all-stock deal the buyer valued at roughly $14 million. This post covers what verified sources say about esports team valuations, disclosed deal prices, club revenue filings and the funding now flowing to organizations in 2026.
Esports Team Valuation Statistics 2026
Which Esports Teams Have the Highest Valuations?
Forbes has not published a new edition since May 2022, so that ranking remains the last full valuation list for the sector.
The ten companies were worth a combined $3.5 billion, an average of $353 million, up 46% from the December 2020 edition.
These are whole-company valuations. Forbes rooted them in 2021 performance and applied multiples to each revenue stream, after speaking with more than 40 executives, investors, bankers and analysts.
| Company | Valuation | Change from 2020 edition |
|---|---|---|
| TSM | $540 million | 32% |
| 100 Thieves | $460 million | 142% |
| Team Liquid | $440 million | 42% |
| FaZe Clan | $400 million | 31% |
| Cloud9 | $380 million | 9% |
| G2 Esports | $340 million | 94% |
| Fnatic | $260 million | Not ranked in 2020 |
| Gen.G | $250 million | 35% |
| NRG | $240 million | 55% |
| T1 | $220 million | 47% |
Source: Forbes, The Most Valuable Esports Companies 2022, published May 2022; change measured against the December 2020 edition.
How the valuations shifted between 2020 and 2022
100 Thieves recorded the largest increase in the ranking at 142%, rising from $190 million in the December 2020 edition to $460 million.
Cloud9 moved least, up 9%. Fnatic entered the list at seventh without a 2020 comparison.
Esports Team Valuation Statistics 2026 From Disclosed Deals
With no current ranking, publicly disclosed transactions are the only hard marks on what buyers actually pay.
FaZe Clan supplies the clearest sequence. The organization announced a SPAC merger in October 2021 saying it was already worth $650 million; GameSquare closed its purchase of the whole company in March 2024 in stock.
| Date | Event | Figure | What the figure measures |
|---|---|---|---|
| Oct 2021 | FaZe Clan announces SPAC merger | $650 million | Valuation claimed by the company |
| May 2022 | Forbes ranks FaZe Clan fourth | $400 million | Forbes valuation estimate |
| Mar 2024 | Complexity Gaming sold to Global Esports Properties | $10.36 million | Total consideration in the sale agreement |
| Mar 2024 | GameSquare completes FaZe Holdings merger | ~$14 million | All-stock consideration stated by GameSquare |
| Apr 2025 | Final FaZe Media stake divested | $39.2 million | Valuation implied by a $10 million contribution for 25.5% |
Source: Forbes (May 2022) for the 2022 estimate; GameSquare Holdings SEC filings and company releases, March 2024 to March 2025. Figures cover different entities and are not comparable as a single series.
FaZe Media, the creator and content arm split out after the acquisition, was valued at roughly $40 million in 2024 after DraftKings co-founder Matt Kalish paid $11 million for 49%.
Numbers like these sit far below tournament economics. Payouts across the biggest circuits are tracked separately in these esports prize pool payout figures, and audience scale is covered in the 2026 tournament attendance data.
How Much Revenue Do Esports Organizations Report?
Forbes published a revenue figure alongside each valuation in 2022. TSM led at an estimated $56 million for 2021.
| Company | 2021 revenue | Stated business focus |
|---|---|---|
| TSM | $56 million | Tech |
| FaZe Clan | $52.9 million | Media |
| 100 Thieves | $38 million | Lifestyle |
| Team Liquid | $38 million | Esports |
| Cloud9 | $35 million | Esports |
| G2 Esports | $31 million | Media |
| NRG | $28 million | Media |
| Fnatic | $26 million | Esports, Web3 |
| Gen.G | $17 million | EdTech, Web3 |
| T1 | $17 million | Esports |
Source: Forbes, The Most Valuable Esports Companies 2022. Figures are Forbes estimates for calendar 2021 covering all divisions; the FaZe Clan figure was taken from its S-4 filing with the SEC.
What clubs are reporting now
T1 filed 2025 revenue of 88.6 billion Korean won with an operating profit of 2.51 billion won and net profit of 1.23 billion won, its first year in the black.
Revenue grew about 80% year over year, driven by merchandise and sponsorship. T1 is a joint venture between SK Square and Comcast Spectacor.
Source: T1 (SK Telecom CS T1 Co., Ltd.) 2025 audit filing, reported April 2026.
NIP Group shows the other side of the ledger. The Nasdaq-listed owner of Ninjas in Pyjamas breaks out esports team operations as its own segment.
| Period | Esports team operations net revenue | Segment gross result |
|---|---|---|
| First half 2024 | US$8.8 million | Gross profit of US$2.8 million |
| First half 2025 | US$3.8 million | Gross loss of US$1.8 million |
Source: NIP Group Inc., First Half 2025 Unaudited Financial Results, published 2 December 2025.
Total NIP Group revenue for the first half of 2025 was US$61.2 million, up 55.5% year over year. Team operations accounted for a small share of that; the company attributed the segment decline to fewer sponsors and a timing change in league revenue share recognition.
Esports Team Valuation Statistics 2026: Where Club Money Comes From
Saudi-backed funding is now the largest single line item for many organizations. The Esports Foundation named 40 clubs to its 2026 Club Partner Program on 31 March 2026.
Each club is eligible for up to $1 million from a $20 million pool. Eight clubs entered by direct invitation from the 2025 Club Championship standings, with the rest chosen from more than 175 applicants.
| Commitment | Amount | Scope |
|---|---|---|
| Esports World Cup 2026 prize pool | $75 million | 25 tournaments across 24 games |
| Club Championship 2026 | $30 million | Distributed across the top 24 clubs |
| Club Championship winner | $7 million | Grand prize for one club |
| Club Partner Program 2026 | $20 million | Up to $1 million each for 40 clubs |
| Club payments since 2024 | Over $100 million | Partner Program and Club Championship combined, three editions |
Source: Esports World Cup Foundation prize pool announcement, 20 January 2026, and Esports Foundation Club Partner Program release, 31 March 2026. These are separate commitments and overlap in scope, so they should not be added together.
The Club Championship pool rose from $27 million in 2025 to $30 million for 2026. The event runs in Riyadh from 6 July to 23 August 2026.
The Foundation reported that the 2025 edition reached 750 million viewers and 350 million hours watched, with peak concurrent viewership of 7.98 million. Title-by-title audience splits appear in this breakdown of the most-watched esports games.
Where the 2026 partner clubs are based
Europe supplied the largest group at nine clubs. China follows with six and North America with five.
The Foundation itemized seven regions and said the remaining places went to clubs from Türkiye, Japan, Korea, MENA and the CIS without giving a count for each.
Source: Esports Foundation, 2026 Club Partner Program announcement, 31 March 2026. Covers only the seven regions the Foundation itemized.
The wider spending picture, including sponsorship and media rights shares, sits in these global esports revenue projections, while in-game monetization is tracked through battle pass spending data.
Esports Team Valuation Statistics 2026 and the Audience Behind Them
Valuations rest on fan bases rather than gate receipts. The Esports Foundation said its 40 partner clubs reach a combined audience of more than 300 million fans worldwide.
In 2025 those clubs ran more than 370 campaigns and hosted over 130 watch parties, engaging over 10 million fans, according to the Foundation. Age skew across competitive gaming is covered in this look at Gen Z gaming habits.
Source: Esports Foundation, 2026 Club Partner Program announcement, 31 March 2026, covering the 2025 season.
FAQs
What is the most valuable esports team?
TSM, at $540 million in the Forbes ranking published May 2022. No publisher has released a full esports valuation ranking since, so that figure remains the most recent published estimate.
How much is FaZe Clan worth?
GameSquare completed its purchase of FaZe Holdings in March 2024 in an all-stock transaction the company valued at roughly $14 million. Forbes had estimated FaZe at $400 million in May 2022.
Do esports organizations make money?
Results split. T1 filed a 2.51 billion won operating profit for 2025. NIP Group’s esports team operations segment posted a US$1.8 million gross loss in the first half of 2025.
What do Reddit threads say about esports team valuations?
Reddit posts asking what teams are worth almost always link the Forbes list. That edition dates to May 2022, so figures circulating on Reddit in 2026 still trace back to 2021 performance data.
How much do clubs earn from the Esports World Cup?
Up to $1 million each from the $20 million Club Partner Program in 2026, separate from prize money. The Club Championship pays $30 million across 24 clubs, with $7 million to the winner.
Sources
https://www.forbes.com/sites/brettknight/2022/05/06/the-most-valuable-esports-companies-2022/
https://www.sec.gov/Archives/edgar/data/1714562/000149315224008697/ex99-1.htm
https://ir.nipgroup.gg/news-releases/news-release-details/nip-group-inc-reports-first-half-2025-unaudited-financial
https://esportsworldcup.com/en/press-releases/40-elite-esports-clubs-selected-for-20m-foundation-program