German multinational corporation Adidas has concluded all legal proceedings with American rapper Kanye West, also known as Yeezy.
In 2022, Adidas terminated its partnership with West due to public pressure from the American Jewish Committee (AJC) over his antisemitic remarks.
On Tuesday, Adidas CEO Bjorn Gulden announced that the company has reached an out-of-court settlement with West, stating that all legal issues have been resolved without any financial exchange. “The drama with West belongs to the past. Negotiations and settlements have been done,” Gulden remarked, although he did not provide further details about the agreement.
After ending the partnership, Adidas found itself with Yeezy stock valued at approximately €1.2 billion (£840 million). Following the resolution of the legal dispute, the company plans to sell the remaining Yeezy stocks by the end of 2024.
