The tumultuous two-year long battle between Kanye West (Ye) and Adidas has apparently come to an end.
Back in October 2022, the sporting company split business ties with Ye following antisemitic remarks made by the “Can’t Tell Me Nothing” rapper. Today (October 29), the two have wrapped up their legal fight. According to Bloomberg, Ye and Adidas reached an out-of-court settlement.
During a conference call, Adidas’ CEO Bjørn Gulden shared a statement regarding their mutual resolve. “There isn’t any more open issues,” he said. “No one owes anybody anything anymore. So whatever was is history.”
Gulden’s comments about financial payout raised questions among patrons. But Page Six claims Gulden clarified that by saying: “There isn’t any more open issues, and there is no money going [out] either way, and we both move on.”
This is shocking revelations considering the damning financial blowback from their split. At the height of their professional departure it was reported that Adidas was projected to lose over $1 billion in sales. The company also suppsoedly had to recall and store $1 billion worth of Yeezy items while they decided what to do moving forward. Eventually, Adidas came to an agreement to sell the remaining inventory, which quickly cleared half of the pieces off of shelves.
Gulden closed by saying: “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.”