Adidas has reached an out-of-court settlement with rapper Ye (formerly Kanye West) to end all pending legal proceedings between the two parties. The company confirmed that no direct money changed hands in the agreement.

The settlement resolves multiple lawsuits that emerged after Adidas terminated its partnership with Ye over antisemitic comments in 2023. CEO Bjorn Gulden confirmed that "there isn't any more open issues, and there is no money going either way."

According to Financial Times, Adidas received over $108 million (€100 million) from unwinding a previous provision related to outstanding legal issues. The company plans to donate this amount, along with an additional €150 million, to charity through an independent non-profit foundation focused on social and environmental progress.

Key Settlement Outcomes:

• All legal claims withdrawn by both parties
• No direct monetary exchange between Adidas and Ye
• Remaining Yeezy stock to be sold by end of 2023
• €250 million total earmarked for charitable causes

The settlement coincides with Adidas reporting strong sales growth in China and the US for the quarter ending September 2023, excluding previous Yeezy sales from comparative figures.

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