Sources: 100 Thieves sign Ryu

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100 Thieves have signed former Phoenix1 and H2K Gaming mid laner Yoo "Ryu" Sang-wook for its new League of Legends lineup, sources close to the player and team told ESPN.

The player acquisition will be the first for the team's 2018 League Championship Series roster. Ryu will occupy one of two international player slots, as restricted by the Riot Games interregional movement policy. The team can sign one more international player but will have to field domestic talent or those with residency in North America in the other slots.

The team also picked up head coach Neil "Pr0lly" Hammad, who has worked with Ryu in the past during the player's time on H2K Gaming, on Monday. 100 Thieves have not announced other support staff, aside from founder and CEO Matthew "Nadeshot" Haag. The team is expected to have operations assistance from its basketball sister company, the Cleveland Cavaliers, and its affiliate venture capital firms, including Detroit Venture Partners, sources said.

Ryu was released into free agency after Phoenix1 was declined admittance to the NA LCS. Phoenix1 will also have to sell or terminate the contracts of Michael "MikeYeung" Yeung, Choi "Pirean" Jun-sik, Raymond "Wiggily" Griffin and Marcin "SELFIE" Wolski in order to receive its exit payment, an estimated $2.57 million.

100 Thieves and the Cavaliers were accepted together as one of 10 new franchises in the North American League Championship Series. Cavaliers owner Dan Gilbert acquired majority share in 100 Thieves over the summer.

100 Thieves declined to comment.