Adidas and music mogul Kanye West have reached a resolution in their legal conflict, two years after the sportswear company severed ties with the artist due to his anti-Semitic remarks.
West’s contract, valued at $220 million annually and totaling $1.5 billion, was terminated in October 2022 following a series of offensive statements, including a post on X where he threatened to go “de.ath-con 3 on Jewish people.”
On Tuesday, Adidas announced that they have finalized an out-of-court settlement with West, concluding all legal actions between the two parties, and clarified that no financial exchange occurred as part of the agreement.
Prompt News recalls that for the past two years, Adidas and West had been involved in several lawsuits.
CEO Bjorn Gulden remarked, “There isn’t any more open issues, and there is no… money going either way, and we both move on.
“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 don’t need to fight anymore and withdrew all the claims.“
The termination of West’s partnership resulted in the loss of his billionaire status and was one of several significant endorsements he forfeited following his controversial statements.
The collaboration, which began in 2013 after West’s departure from Nike, was anticipated to last for a decade.
Prior to the termination, West had already been publicly criticizing Adidas executives, alleging that they had appropriated his ideas.
Although West owns the Yeezy brand, Adidas compensates him with an annual royalty fee for the sale of the products.
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