Adidas and Ye Settle Legal Feud

Adidas and the rapper Ye, previously known as Kanye West, have settled their legal disputes without financial transactions. The disputes arose from Adidas ending their partnership after Ye's antisemitic comments. Both parties have decided to drop all claims and move forward.

Adidas has finalized an out-of-court settlement with rapper Ye, also known as Kanye West, to conclude all legal proceedings between them, as announced on Tuesday. Notably, the agreement involved no financial exchange.

The sportswear giant and the rapper had been embroiled in legal battles for two years following Adidas's termination of their collaboration due to Ye's antisemitic remarks. 'There aren't any more open issues, and no money is going either way; we both move on,' confirmed CEO Bjorn Gulden during a conference call with reporters, though he declined to divulge specific details about the accord.

'There were tensions on many issues, and when you evaluate the claims on both sides, both parties decided there was no further need to combat and withdrew all claims,' added Gulden.

(With inputs from agencies.)