German multinational Adidas has concluded all legal proceedings with American rapper Kanye West, also known as Yeezy. The company had initially ended its partnership with West in 2022 after public pressure from the American Jewish Committee (AJC) over his antisemitic remarks.
On Tuesday, Adidas CEO Bjorn Gulden confirmed that the company reached an out-of-court settlement with West, ending all legal matters without any financial exchange. “The drama with West belongs to the past. Negotiations and settlements have been done,” Gulden said, though specific details of the agreement were not disclosed.
Following the termination of their partnership in 2022, Adidas was left with Yeezy stock valued at approximately €1.2 billion (£840 million). With the legal dispute now resolved, the company announced that it will sell off the remaining Yeezy stock by the end of 2024.