Judge Denies Adidas’ Request To Re-Freeze $75M Of Kanye West’s Yeezy Funds
Kanye West will maintain control of a large portion of his Yeezy funds, per a decision by a judge this week. Adidas submitted a request to re-freeze $75 million of the 45-year-old’s money in the midst of their ongoing legal battle.
Billboard obtained court documents revealing that the judge denied the emergency motion this past Tuesday (May 30) during a hearing in Manhattan. Adidas expressed concern over how Ye would use the money, stating that they would suffer “irreparable harm” if the funds were not frozen.
This is the latest chapter in their back-and-forth which began in November 2022. Adidas began litigation with the Donda artist after severing ties due to his anti-semitic rants. Judge Caproni granted their wish and froze the funds on an ex-parte basis, meaning in favor of Adidas and rendering West and his team unable to counter.
According to Morgan Stanley, at the time when the partnership between Kanye West and Adidas dissolved last year, Kanye accounted for 8% of Adidas revenue and 40% of its profit.
On a short list of all time instantaneous corporate meltdowns.— logan bartlett (@loganbartlett) May 27, 2023
Last week, Kanye West’s legal team challenged the order to freeze the $75 million and Caproni obliged, unfreezing the funds after ruling that Adidas took away his “fair chance to reply.” For clarity’s sake, Tuesday’s ruling only pertains to the emergency motion to re-freeze the funds. Adidas can still request that the court re-freeze the “Good Life” artist’s funds through a different order.
Outside of legal battles, West reportedly contributed heavily to Lil Durk’s creative process for his latest LP Almost Healed. The records did not make the album, but the Chicago rapper has some ideas for how his “genius” efforts can be used.
“I’m trying to see if I can come back with some genius sh*t with it, man, and double my sales,” the GRAMMY nominee told DJ Akademiks in reference to a possible deluxe version of the album during the May 23 edition of Off The Record.
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