Adidas CEO Bjørn Gulden declared an amicable end to the legal issue with Kanye West two years after the artist's antisemitic remarks.
He stated that all outstanding matters had been resolved, with no financial transactions involved.
According to CNBC, the businessman said, "There isn't any more open issues, and there is no... money going either way, and we both move on."
"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."
"No one owes anybody anything anymore. So whatever was is history."
Adidas was later left with almost $1.3 billion in unsold Yeezy merchandise, which accounted for about half of the company's profits.
Gulden then committed to contributing the remaining proceeds from Yeezy sales to support the groups affected by West's controversial remarks.
There has been several legal actions back and forth between the two parties, mostly resolved via confidential arbitration proceedings.
West and Adidas' partnership had been plagued with misconduct for yours just before its end in 2022.
In October 2023, a report revealed that during their initial meeting in 2013, West reportedly sketched a swastika, signaling the controversial start to their collaboration.
Upon facing challenges with the team's ideas, several ex-employees alleged that West's frustration led him to take drastic action. According to accounts, he once seized a shoe sketch and boldly marked the toe with a hateful image to express his strong disapproval of the designs.
There were also claims of offensive conduct, with West reportedly making controversial statements about Adolf Hitler, referring to him as a "master marketer" and expressing admiration for his propaganda skills.
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