Kanye West Reportedly Did Have Close To $100 Million Frozen By Adidas

Kanye had previously claimed that his accounts were frozen.

BYAlexander Cole
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Back in November, Kanye West accused Adidas of freezing some of his accounts. While speaking to an outlet called X17, he noted that over $75 million in cash was frozen out of nowhere. Overall, it was a pretty wild claim. However, many tied it to his anti-Semitic comments and the brand's attempts to get out of their deal with him. “I went from being a multi-billionaire to not even being able to use my Apple Pay four nights ago. I couldn’t use my Apple Pay because someone how Adidas was able to legally go in and freeze my money," he explained at the time.

In new unsealed court documents from Law360, it appears as though Kanye was right about having his money frozen. Ultimately, Adidas was told explicitly in a court of law that they could, indeed, freeze close to $100 million worth of Ye's money. Moreover, it was revealed that this was an "ex parte" decision from the court. Consequently, Ye was never given a chance to actually respond to the decision. Subsequently, Adidas is entering arbitration to officially terminate its deal with Kanye, and this has led to more litigation with the courts. Essentially, they want a New York federal court to uphold the initial ruling.

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Kanye West Was Right

Kanye West at Milk Studios on June 28, 2016 in Hollywood, California. adidas and Kanye West announce the future of their partnership: adidas + KANYE WEST (Photo by Jonathan Leibson/Getty Images for ADIDAS)

This is very interesting timing seeing as though Ye and Adidas have teamed up to sell off the remaining Yeezys that are in stock. Kanye will be getting a pretty hefty royalty from this. However, it is clear that Adidas would rather just sever ties completely, and as soon as humanly possible. Given the circumstances, it is understandable as to why they feel that way.

Overall, this is an ongoing situation with some fairly big stakes involved. For Kanye, he just wants proper access to his money. Meanwhile, Adidas wants to protect its interests and profits. Stay tuned to HNHH for all of the latest news and updates from around the sneaker world.

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About The Author
Alexander Cole is the current Managing Editor of HotNewHipHop. He started at HotNewHipHop back in 2018 where he began as a Sports and Sneakers writer. During this time, he has shown an expertise in Air Jordans, Yeezys, and all things that have to do with Nike. His favorite kicks are the Air Jordan 1 High OG, the Air Jordan 4, the Air Jordan 6, and the Adidas Yeezy Boost 350 V2 in the "Beluga 2.0" colorway. Although his collection might not be the biggest, he is always looking to add new styles to it. When it comes to sports, Alex has a particular interest in the NBA and the NFL. His favorite teams are anywhere LeBron goes, and the Kansas City Chiefs. As a Montrealer, the Montreal Canadiens hold a special place in his heart, even if they haven't won the Stanley Cup in his lifetime. Alex also works for the Concordia Stingers, where he provides play-by-play and color commentary for the football, hockey, and basketball teams His favorite hip-hop artists are Kendrick Lamar, Playboi Carti, Travis Scott, and Lil Uzi Vert.