Adidas and US musician Kanye West’s “fight” over his antisemitic remarks in 2022, which ruined the sports company and rapper’s “Yeezy” cooperation, has ended.
To put an end to all legal procedures between them, the business announced on Tuesday that it had achieved a settlement with Mr. West.
“There [aren’t] any more open issues and there is no… money going either way,” Bjorn Gulden, the CEO of Adidas, stated during a conference call.
“There were tensions on many issues [but]… both parties said we don’t need to fight any more,” Gulden stated during the call regarding the company’s most recent financial performance.
Adidas holds Yeezy stock worth about €1.2 billion (£840 million) when the collaboration ended. The sports giant sells the goods in batches and donates the money to non-governmental organizations, including its own newly established anti-discrimination foundation.
According to the corporation, the last Yeezy shares will be sold by the end of 2024.
In sharp contrast to 2022, the choice to put the “fight” behind them has been made. Adidas stated at the time that “antisemitism and any other sort of hate speech” are unacceptable.
Additionally, it stated: “Ye’s recent remarks and behavior have been intolerable, harmful, and hateful, and they go against the company’s values of fairness, respect for one another, and diversity and inclusion.”
