Adidas ends relationship with Kanye West following his recent anti-Semitic comments
Earlier in October, Adidas announced that it is putting its partnership with Kanye West under review. The company has now taken a decision to terminate its contract with him.
Kanye West, who now goes by the name 'Ye', will no longer enjoy a partnership with Adidas.
The retail giant has announced that it has terminated its partnership with the global star due to his anti-semitic comments.
Kanye made headlines earlier in October when he controversially tweeted that he would go "death con 3" on the Jewish community. Several reports suggested that he misspelled Defcon - which is a U.S. military term used to indicate a state of readiness. He also tweeted: "you guys have toyed with me and tried to black ball anyone whoever opposes your agenda."
READ: Adidas puts partnership with Kanye West 'under review'
In a statement released today, Adidas said the rapper's recent comments were unacceptable.
"Adidas does not tolerate antisemitism and any other sort of hate speech. Ye's recent comments and actions have been unacceptable, hateful and dangerous, and they violate the company's values of diversity and inclusion, mutual respect and fairness," it said in a statement.
The sportswear giant announced that it is terminating the partnership with immediate effect.
"After a thorough review, the company has taken the decision to terminate the partnership with Ye immediately, end production of Yeezy branded products and stop all payments to Ye and his companies," the brand continued. "Adidas will stop the Adidas Yeezy business with immediate effect."
According to a report by Forbes, Kanye will lose out on millions of dollars.
'West's deal with Adidas is worth $220 million annually and $1.5 billion total, per Forbes' estimates, and his net worth would plummet to well below $1 billion without the partnership,' states Forbes' website.
Kanye's partnership with Adidas commenced in 2013 after he ended his relationship with Nike. The deal involved both shoes and clothing.
Although he has told Piers Morgan in an interview that he was sorry for the people that he hurt, he did not regret making the remarks.
Image courtesy of Instagram.