Nike Suspends Relationship with Kyrie Irving, 'Will No Longer Launch' Sneaker Collaboration

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Kyrie Irving is continuing to feel the repercussions for promoting an antisemitic film on Twitter.

On Friday, Nike announced that the company will distance themselves from the NBA star, 30. The move comes shortly after the Brooklyn Nets announced Thursday that they suspended Irving "for at least five games without pay."

In a statement to PEOPLE, the athletic apparel brand says, "At Nike, we believe there is no place for hate speech and we condemn any form of antisemitism. To that end, we've made the decision to suspend our relationship with Kyrie Irving effective immediately and will no longer launch the Kyrie 8."

They add, "We are deeply saddened and disappointed by the situation and its impact on everyone."

RELATED: Nets Condemn Kyrie Irving's Perceived Support of Antisemitic Film: 'This Is Bigger Than Basketball'

Irving joined the Nets organization earlier this week in pledging a combined $1 million donation to organizations in an effort to "eradicate hate and intolerance." However, he failed to take a clear stance against antisemitism when he was questioned by the media if he was sorry for tweeting a link that promoted a 2018 movie based on the 2014 book Hebrews to Negroes: Wake Up Black America.

He responded that some things in the film "were questionable."

Following his suspension from the Nets, he released a statement on social media Friday in which he apologized to the Jewish community.

The statement read, in part: "To All Jewish families and Communities that are hurt and affected from my post, I am deeply sorry to have caused you pain, and I apologize. I initially reacted out of emotion to being unjustly labeled Anti-Semitic, instead of focusing on the healing process of my Jewish Brothers and Sisters that were hurt from the hateful remarks made in the Documentary.

"I want to clarify any confusion on where I stand fighting against Anti-semticism [sic] by apologizing for posting the documentary without context and a factual explanation outlining the specific beliefs in the Documentary I agreed with and disagreed with. I had no intentions to disrespect any Jewish cultural history regarding the Holocaust or perpetuate any hate."

RELATED: Charles Barkley Says NBA 'Should Have' Suspended Kyrie Irving After He Promoted Antisemitic Film

According to Rolling Stone, the film that Kyrie promoted on Twitter includes antisemitic tropes and stereotypes and features extreme views of Black Hebrew Israelites, who argue that Black people are the only true descendants of ancient Israelites.

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NBA Commissioner Adam Silver announced that he will be meeting with Irving later this week.

"Kyrie Irving made a reckless decision to post a link to a film containing deeply offensive antisemitic material," he said in a statement shared on social media Thursday.

"While we appreciate the fact that he agreed to work with the Brooklyn Nets and the Anti-Defamation League to combat antisemitism and other forms of discrimination, I am disappointed that he has not offered an unqualified apology and more specifically denounced the vile and harmful content contained in the film he chose to publicize," he added.