German multinational corporation, Adidas, has ended all legal proceedings with popular American rapper, Kanye West known as Yeezy.
According to reports, Adidas terminated its deal with Kanye in 2022 following the public pressure by the American Jewish Committee, AJC, over the singer’s antisemitic comments.
However, speaking on Tuesday, the firm chief executive, Bjorn Gulden said it had “reached an out of court settlement with West to end all legal proceedings without money exchange.
“The drama with West belongs to the past. Negotiations and settlements have been done”, Bjorn Gulden stated without giving details of the agreement.
After ending the partnership in 2022, Adidas was left with Yeezy stock worth around €1.2bn (£840m).
Following the end of the legal dispute, the company said that the final Yeezy stocks will be sold by the end of 2024.