Adidas says Kanye West 'mishandled' $75 million of funds that were supposed to be used for marketing the Yeezy collection
The rapper, now known as Ye, is in a legal battle with the sportswear company that's being conducted in arbitration.
It relates to a marketing fund that was worth $100 million a year, according to court documents seen by Insider. Adidas says $75 million was paid into two Yeezy bank accounts, but Ye and the companies"mishandled virtually all of the marketing funds," by failing to keep it separate and spending on unauthorized purposes, per Bloomberg.
A contract signed by both parties, which Insider has seen, says the marketing fund may not be"commingled," and if any funds are used inappropriately then Yeezy would have to repay it to Adidas.In a 2020
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Microsoft and Activision Blizzard Still Committed to $75 Billion Merger, Sources SayMicrosoft and Activision Blizzard plan to continue to work toward completing their $75 billion deal by sorting out lingering regulatory issues
Les mer »
Microsoft and Activision Blizzard Extend $75 Billion Merger DeadlineMicrosoft and Activision Blizzard agreed to extend the deadline for their $75 billion merger until mid-October, a step that will allow them to continue with efforts to gain regulatory approval in the U.K.
Les mer »
Kim Kardashian Says Ex Kanye West Told Her to Burn His ThingsThursday's episode of 'The Kardashians' marked the end of a chapter for Kim Kardashian.
Les mer »
Everything Kim Kardashian Said About Messy Kanye West Divorce on Day It Was FinalizedAfter sharing what 'sucks' most about divorce while filming her reality show the day it was finalized, Kim also opened up about shielding their kids from 'all of the mean things' Kanye's done and feeling 'at peace' with their split.
Les mer »
Kim Kardashian: I ‘jumped into’ Pete Davidson relationship to ‘run’ from Kanye West drama“I definitely jumped into another relationship so fast. It got my mind away, from like, stuff, and that’s not a way, to like, run from things.” she said.
Les mer »