Keep Up With Global Black News

Sign up to our newsletter to get the latest updates and events from the leading Afro-Diaspora publisher straight to your inbox.

BY Sandra Appiah, 6:01pm November 02, 2024,

Kanye West And Adidas Reach Settlement To End Legal Dispute

by Sandra Appiah, 6:01pm November 02, 2024,
Photo Credit Instagram: @ka1serwest and Facebook @adidas

Adidas has reached an out-of-court settlement with rapper Kanye West, now known as Ye, to end all legal proceedings between them.

According to a report released by The Washington Post, Kanye and the sportswear brand’s partnership generated about $2 billion in annual revenue for Adidas by 2022

Bloomberg also reported that Yeezy made half of Adidas’ total profits before they went their separate ways, highlighting the partnership’s success.

This achievement helped Ye reach unicorn status, though he lost it after ties were severed following his antisemitic comments in 2022.

West, 47, posted on X in 2022 that he was “going death con 3 on Jewish people”.

Adidas issued a statement at the time calling the remarks “unacceptable, hateful, and dangerous” and saying they “violate the company’s values of diversity and inclusion, mutual respect, and fairness.”

The end of the partnership left Adidas with Yeezy stock worth over £1 billion.

Last year, Adidas announced it would be selling its leftover Yeezy inventory in batches and donating part of the proceeds to anti-hate groups.

The company made around $437m (£336.2m) from its first sale of the leftover sneakers.

Adidas kept its promise and made donations to the Anti-Defamation League and the Philonize & Keeta Floyd Institute for Social Change run by George Floyd’s brother.

This settlement, even though it is long overdue, does not involve any financial exchange, as confirmed by Reuters.

However, it was reported that Adidas CEO Bjorn Gulden acknowledged the details during a recent conference call.

He stated “There aren’t any more open issues, and there are no money going either way, and we both move on whilst declining to give further details of the deal. 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.”

Last Edited by:webmaster Updated: May 20, 2025

Conversations

Must Read

Connect with us

Join our Mailing List to Receive Updates

Face2face Africa | Afrobeatz+ | BlackStars

Keep Up With Global Black News and Events

Sign up to our newsletter to get the latest updates and events from the leading Afro-Diaspora publisher straight to your inbox, plus our curated weekly brief with top stories across our platforms.

No, Thank You