Adidas has reached an out-of-court settlement with rapper Ye (formerly Kanye West) to end all legal proceedings between the two parties, with no direct monetary exchange involved in the agreement.

The settlement resolves multiple lawsuits that emerged after Adidas terminated its partnership with Ye over antisemitic comments he made in 2022. CEO Bjorn Gulden confirmed that "there isn't any more open issues, and there is no money going either way."

Financial Times reports that Adidas received over €100 million ($108 million) from unwinding a previous provision related to the 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• All legal claims withdrawn by both parties
• Final Yeezy stock to be sold by end of 2023
• €250 million total allocated for charitable causes
• Complete termination of business relationship

Adidas reports strong sales growth in China and the US for Q3 2023, even with previous year's Yeezy sales excluded from comparisons.

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