Adidas claims Kanye West "mishandled" millions in funds

New York, New York - Adidas is now claiming that Kanye West "mishandled" millions of dollars during their business partnership, and they want their money back.

Adidas now claims that Kanye West "mishandled" millions in funds during their partnership.
Adidas now claims that Kanye West "mishandled" millions in funds during their partnership.  © PATRICK KOVARIK / AFP

According to a new report from Bloomberg, Adidas says West was sent a total of $100 million that was to be used specifically for marketing Yeezy products.

The funds were deposited in two separate bank accounts, but Ye allegedly took out $75 million, deposited it into a personal account, and used the money for other means.

Adidas says he "mishandled virtually all of the marketing funds," effectively breaching their contract, which states he must repay any money that was inappropriately used.

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Ye has been in a private legal battle with the sportswear company that's being conducted in arbitration after Adidas cut ties with him last year due to the rapper's repeated antisemitic statements.

While West has been trying to stay out of the public eye, Adidas has been desperately trying to pick up the pieces as they lost millions after dropping him.

The company has even resorted to reselling product stock left over from the partnership.

In 2020, West said in an interview that he spent $50 million of Yeezy's marketing funds on his gospel choir, Sunday Service. He did not specify if the money came from Adidas.

Cover photo: PATRICK KOVARIK / AFP

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