Adidas says it's cutting ties with Kanye West over his recent 'hateful and dangerous' comments

Adidas said on Tuesday that it had cut ties with West. The company made and sold sneakers under Ye's name.

The company does not tolerate hate speech. The company's values of diversity and inclusion, mutual respect and fairness have been violated byYe's recent comments.

All payments to Ye and his companies will be stopped by Adidas after a thorough review.

The Adidas business will be stopped immediately.

Adidas said earlier this month that it was reviewing its relationship with Ye.

Adidas was said to be ending its partnership with the rapper due to his offensive behavior.

Ye was criticized for wearing a shirt with the phrase "White Lives Matter", which has been linked to white supremacist groups. He told Tucker Carlson that he wore the shirt because he thought the motto was correct.

He said he was going to die con 3 on Jewish people. His account was locked because he violated its policies.

According to a report, a number of companies have severed ties with Ye, including luxury fashion brand Balenciaga, fashion magazine Vogue, and even banking giant JP Morgan.

Both the talent agency and the film and TV studio were going to release a documentary about him on Monday.

Ye said in September that he wouldn't work with Adidas or Gap after his contracts expired.

He said it was time for him to himself. Companies are no longer standing in between me and the crowd.

Ye sent a letter to Gap in September saying he was ending his relationship with the company.

According to Forbes, Ye got a 15% royalty on wholesale revenue when his partnership with Adidas began. The report said that the business made $191 million in royalties from the Adidas deal. Ye's contract with Adidas was due to end in 2026.

The end of the partnership is expected to have a short-term negative impact on the company's net income in the fourth quarter.

The company said that it was the sole owner of all design rights to existing products. The company will give more information at its third-quarter earnings announcement.

One of the most successful collaborations in our industry's history is the partnership between Adidas and Yeezus.