and have officially settled their legal battle, which stemmed from the sportswear giant's decision to terminate its lucrative partnership with the rapper. This partnership, which had an annual value of 220 million dollars and a total worth of around 1.5 billion dollars, came to an abrupt end in October 2022 due to 's repeated anti-Semitic remarks, including a notorious social media post.
"I would go death-con 3 on Jewish people," West posted online. On Tuesday, Adidas announced that they had reached an out-of-court settlement, clarifying that no money changed hands in the agreement. made clear the company's position.
"There aren't any more open issues, and there is no...
money going either way, and we both move on," Gulden declared. He elaborated that both parties assessed their claims and ultimately decided to withdraw them. The termination of the partnership had severe financial implications for West, resulting in the loss of his billionaire status.
Adidas projected a negative impact of approximately 250 million euros on its net income for the year following the split. The unraveling of a high-profile collaboration 's relationship with began in 2013 after he left Nike, and it was initially expected to last for a decade. The Yeezy brand quickly rose to prominence, with Adidas paying West an annual royalty for the line.
However, as tensions escalated, West accused Adidas executives of stealing his creative ideas. The situation reached a boiling point in February 2024 when Wes.