Adidas has reached an out-of-court settlement with rapper Ye (formerly Kanye West), ending all legal proceedings between the parties. According to CEO Bjorn Gulden, no direct money exchanged hands as part of the agreement.

The settlement resolves multiple lawsuits that emerged after Adidas terminated its partnership with Ye over antisemitic comments. Financial Times reports that Adidas received over $108 million (€100 million) from unwinding a previous provision related to the legal issues.

Key Settlement Details:

• All legal claims withdrawn by both parties
• No direct money exchange between Adidas and Ye
• €250 million total ($108 million from settlement plus €150 million) allocated to charity
• Remaining Yeezy stock to be sold by end of 2023

The company plans to distribute these funds through an independent non-profit foundation to "promote social and environmental progress." Adidas reports strong sales growth in China and the US for the quarter ending September, even with Yeezy sales removed from prior-year comparisons.

CEO Gulden confirmed this marks the final chapter of the Adidas-Ye relationship, stating "there are no open issues between us" once remaining Yeezy stock is sold.

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