The Kanye West and Adidas drama has come to an end.
The German sports brand reached an out-of-court agreement with Kanye West, who now goes by Ye, where both parties agreed to withdraw all legal claims linked to the companys decision to end its partnership with the rapper without any money changing hands.
Following the comments, Adidas discontinued its Yeezy sneaker line, which was created by Ye, in October 2022. Adidas stated at the time that “antisemitism and any other sort of hate speech” were not acceptable.
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According to Reuters, Adidas CEO Bjorn Gulden said on a call: “There isn’t any more open issues, and there is no… money going either way, and we both move on.” Bjorn added: “There were tensions on many issues, and when you put the claims on the right side and you put the claims on the left side, both parties said we dont need to fight anymore and withdrew all the claims.”
After the terminated deal, Adidas was left with roughly $1.3 billion worth of Yeezy product. The German sports brand continued to sell down over the last two years, which Kanye has blasted them for in deleted Instagram posts. Ye revealed that the colorways were not his and he had nothing to do with the recent releases. The brand stated that it plans to end sales of the collaborative line by the end of this year.
After a series of further unpleasant remarks in October 2022, Ye lost his deal with Adidas. Because of the collaboration, Ye became a billionaire but it all came to an end when the rapper went on a X, formerly known as Twitter, rant in which he threatened to “death con 3 on JEWISH PEOPLE.”
Forbes listed his net worth at $2 billion but one the sports apparel company terminated their deal, he has lost a other deals, making his net worth around $400 million.
Adidas “had been tolerating his misconduct behind the scenes for nearly a decade,” according to the New York Times in 2023.
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