Adidas severed ties with Kanye West and his Yeezy brand today.
The German company cited Ye's antisemitism in their decision to terminate their partnership with Kanye immediately, end production of Yeezy branded products, and stop all payments.
Adidas says this will cost them about $250 million in the fourth quarter of 2022.
But that will be a short-term loss.
Adidas is the sole owner of the design rights to existing Yeezy products as well as previous and new colorways under the partnership.
Whether they will be able to monetize this intellectual property without Ye's name remains to be seen. But they will have the opportunity to try.