Kanye West has reached a settlement with Adidas executives following the termination of the Yeezy fashion collaboration.
After the Stronger rapper made a string of antisemitic remarks on social media in October 2022, bosses at the German sportswear giant ended the partnership with immediate effect.
But following years of legal battles and private arbitration over the decision, chief executive Bjørn Gulden shared during a conference call on Tuesday that all claims had been resolved and that both parties had agreed not to pay the other any more money.
“There (aren’t) any more open issues and there is no… money going either way,” he said, according to the BBC. “There were tensions on many issues (but)… both parties said we don’t need to fight any more.”
Gulden also insisted any drama with Kanye, who now goes by the name Ye, “belongs to the past”.
“When you have conflicts like this, you take provisions and you have legal opinions and there are negotiations and there are settlements being done, and this is the end to it,” the executive continued. “No one owes anything to anybody anymore. Whatever was is history.”
A representative for Kanye has not yet commented on the news.
First launched in 2015, the Yeezy Boost 750 was a massive success, with fans queuing for hours to get a hold of a pair of the trainers. The controversial hip-hop star later launched his equally popular Yeezy fashion collection.
But following the termination of the Yeezy contract, Adidas was left holding $1.3 billion worth of unsold shoes.
Instead of destroying the stock, bosses decided to sell the footwear and donate some of the proceeds to charities, such as the Anti-Defamation League and The Philonise and Keeta Floyd Institute for Social Change.
