Adidas to resume selling Yeezys and Kanye is getting his proceeds
- Thread starter Frotep
- Start date
Adidas Quietly Won A Court Order Freezing $75M Held By Kanye’s Yeezy Brand – And It Wants To Keep It That Way
Adidas won a court order freezing $75M held by Kanye's Yeezy brand, with the company citing the rapper's "volatile behavior" and financial problems.
www.billboard.com
Adidas froze $75 million of Kanye's profits from their collaboration, directly after they fired him.
Like I said, they aren't trying to pay him a dime moving forward, and there is no new deal.
Now maybe people will listen.
Fred.
What they did then doesn't mean anything now really as Yeezy's are dropping again on the 31st and they owe him 15% of the profits. Those Yeezy's wouldn't be releasing if they didn't come to a mutual decision.Adidas Quietly Won A Court Order Freezing $75M Held By Kanye’s Yeezy Brand – And It Wants To Keep It That Way
Adidas won a court order freezing $75M held by Kanye's Yeezy brand, with the company citing the rapper's "volatile behavior" and financial problems.
Adidas froze $75 million of Kanye's profits from their collaboration, directly after they fired him.
Like I said, they aren't trying to pay him a dime moving forward, and there is no new deal.
Now maybe people will listen.
Fred.
For the record, they're listed as final sale so they're trying to get rid of all inventory that they have. People are complaining about Ye, but a lot of that inventory is going to sell out especially the slides and foam runners with resale value.
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Then?
Judge Overturns Adidas Court Order Freezing $75M Held by Kanye’s Yeezy Brand
In the Kanye v Adidas case, the freeze of $75M held by the rapper's Yeezy brand has been overturned by a judge.
www.billboard.com
A judge just lifted the freeze and Adidas is fighting to reinstate it. Meaning, they aren't trying to pay him ANYTHING. That literally happened earlier today.
That 15% shyt was never confirmed anywhere, the media vaguely referenced it (again, with no source) and you cats ran with it.
Adidas retroactively trying to take money they gave him back should be a big ass clue they didn't cut him into 15% of the profits moving forward. Let's use some common sense here.
Fred.
Then?
Judge Overturns Adidas Court Order Freezing $75M Held by Kanye’s Yeezy Brand
In the Kanye v Adidas case, the freeze of $75M held by the rapper's Yeezy brand has been overturned by a judge.
A judge just lifted the freeze and Adidas is fighting to reinstate it. Meaning, they aren't trying to pay him ANYTHING. That literally happened earlier today.
That 15% shyt was never confirmed anywhere, the media vaguely referenced it (again, with no source) and you cats ran with it.
Adidas retroactively trying to take money they gave him back should be a big ass clue they didn't cut him into 15% of the profits moving forward. Let's use some common sense here.
Fred.
They should just pay him his dividends and be done with it...
why the fukking fight???
Then?
Judge Overturns Adidas Court Order Freezing $75M Held by Kanye’s Yeezy Brand
In the Kanye v Adidas case, the freeze of $75M held by the rapper's Yeezy brand has been overturned by a judge.
A judge just lifted the freeze and Adidas is fighting to reinstate it. Meaning, they aren't trying to pay him ANYTHING. That literally happened earlier today.
That 15% shyt was never confirmed anywhere, the media vaguely referenced it (again, with no source) and you cats ran with it.
Adidas retroactively trying to take money they gave him back should be a big ass clue they didn't cut him into 15% of the profits moving forward. Let's use some common sense here.
Fred.
Kanye’s Second Coming: Inside The Billion-Dollar Yeezy Empire
Kanye West has one of the biggest hits of the decade—and it has nothing to do with music. His Yeezy sneaker empire is the best bet in a generation to topple Air Jordan. Sometimes it pays to be a control freak.
www.forbes.com
"Later, with the help of Scooter Braun, who started a stint comanaging West in 2016, they created what appears to be an unprecedented deal: a 15% royalty on wholesale, according to sources familiar with the deal, plus a marketing fee." For comparison, Michael Jordan is thought to get royalties closer to 5%, though he doesn’t own his brand. (After publication, we clarified the time line of the Adidas deal).
That 15% number has always been out there and a lot of us sneakerheads have known that. There's a reason why a lot of us kept saying that Adidas was going to be in a bind without Ye as evidenced by the fact they've had sale after sale since and their Confirmed app hasn't had any notable releases or traffic without him.
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That's not how it works breh. The 75 million doesn't reflect the 15% owed go him. It is an asset of the partnership so it makes sense that they'd freeze it when they're in the process of unwinding their relationship.Then?
Judge Overturns Adidas Court Order Freezing $75M Held by Kanye’s Yeezy Brand
In the Kanye v Adidas case, the freeze of $75M held by the rapper's Yeezy brand has been overturned by a judge.
A judge just lifted the freeze and Adidas is fighting to reinstate it. Meaning, they aren't trying to pay him ANYTHING. That literally happened earlier today.
That 15% shyt was never confirmed anywhere, the media vaguely referenced it (again, with no source) and you cats ran with it.
Adidas retroactively trying to take money they gave him back should be a big ass clue they didn't cut him into 15% of the profits moving forward. Let's use some common sense here.
Fred.
I can’t wait
Kanye’s Second Coming: Inside The Billion-Dollar Yeezy Empire
Kanye West has one of the biggest hits of the decade—and it has nothing to do with music. His Yeezy sneaker empire is the best bet in a generation to topple Air Jordan. Sometimes it pays to be a control freak.
"Later, with the help of Scooter Braun, who started a stint comanaging West in 2016, they created what appears to be an unprecedented deal: a 15% royalty on wholesale, according to sources familiar with the deal, plus a marketing fee." For comparison, Michael Jordan is thought to get royalties closer to 5%, though he doesn’t own his brand. (After publication, we clarified the time line of the Adidas deal).
That 15% number has always been out there and a lot of us sneakerheads have known that. There's a reason why a lot of us kept saying that Adidas was going to be in a bind without Ye as evidenced by the fact they've had sale after sale since and their Confirmed app hasn't had any notable releases or traffic without him.
That article is from 2019.
My article is from today.
That 15% shyt ain't been in affect since their split, but you cats keep quoting it like some new info emerged.
The $75 million freeze is because they don't want to pay him the 15%. Not back then, not now. Understand?
Asset freezing happens so an individual doesn't liquidate their assets before a monetary judgement is handed against them.
The monetary judgement = Adidas wants their $75 million back.
Adidas wants their money back = they very obviously aren't paying him more money. They want him to have zero dollars from them.
Fred.
That article is from 2019.
My article is from today.
That 15% shyt ain't been in affect since their split, but you cats keep quoting it like some new info emerged.
The $75 million freeze is because they don't want to pay him the 15%. Not back then, not now. Understand?
Adidas Announces Plan to Sell Remaining Yeezy Sneakers
During Adidas’ annual shareholder meeting, the company announced its plans to sell its leftover Yeezy inventory and donate portions of the proceeds to charity.
www.complex.com
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Adidas to sell some Yeezy stock, donate proceeds - CEO
Adidas will sell some of the merchandise from its defunct Yeezy partnership with rapper Kanye West and donate part of the proceeds to international organisations, CEO Bjoern Gulden said on Thursday.
www.reuters.com
Kanye West, the man behind the defunct Adidas Yeezy line, will reportedly be entitled to 15 percent of sales, as previously agreed upon in their contract.
If the goods are sold, Ye will be entitled to previously-agreed commissions - 15% of turnover, according to media reports.
Asset freezing happens so an individual doesn't liquidate their assets before a monetary judgement is handed against them.
The monetary judgement = Adidas wants their $75 million back.
Adidas wants their money back = they very obviously aren't paying him more money. They want him to have zero dollars from them.
Fred.
Do you understand how partnerships work breh? You seem to think that it is an all or nothing type situation where them claiming 75 mil invalidates the claim that he is entitled to 15% of the proceeds.
It doesn't work like that breh.
They aren't claiming a random $75 mill.
The unsealed court docs literally say it's from Yeezy profits:
Kanye West Was Right About Adidas Freezing $75M Of His Yeezy Funds
Kanye West has had a hunch of his come true with adidas freezing $75 million of his assets from Yeezy sales. adidas took legal action against Yeezy in 2022.
hiphopdx.com
They wanted him have zero dollars from them since the split. I'm legit confused as to why you think this doesn't apply to anything now. They're trying to take back the 15% they already paid him, not give him more money. shyt makes zero sense.
Adidas Announces Plan to Sell Remaining Yeezy Sneakers
During Adidas’ annual shareholder meeting, the company announced its plans to sell its leftover Yeezy inventory and donate portions of the proceeds to charity.
Adidas to sell some Yeezy stock, donate proceeds - CEO
Adidas will sell some of the merchandise from its defunct Yeezy partnership with rapper Kanye West and donate part of the proceeds to international organisations, CEO Bjoern Gulden said on Thursday.
Kanye West, the man behind the defunct Adidas Yeezy line, will reportedly be entitled to 15 percent of sales, as previously agreed upon in their contract.
If the goods are sold, Ye will be entitled to previously-agreed commissions - 15% of turnover, according to media reports.
I'm starting to think you're slow. That article is from 16 days ago.
People assumed the number was the same ("previously agreed upon") until today when the court documents were unsealed. The documents say Adidas froze Kanye's profits from the Yeezy line....why would they do that, if they were gonna give him more money?
I hope you cats are doing some kinda 4D chess trolling.
Fred.