Adidas to sell stockpile of Ye's sneakers after cancelling partnership

Adidas announced on Friday that they will begin releasing some of their existing YEEZY product at the end of May and the company said proceeds from the sales will go to organizations such as the Anti-Defamation League (ADL) and the Philonise & Keeta Floyd Institute for Social Change, an organization run by the brother of George Floyd.

"Since terminating the YEEZY partnership in October, Adidas has been exploring multiple scenarios for the potential use of the existing YEEZY inventory," the statement read. "The process involved seeking feedback and listening to a diverse group of employees, organizations, communities, and consumers for how to responsibly manage the existing product."

Adidas CEO Bjørn Gulden said in the statement, "After careful consideration, we have decided to begin releasing some of the remaining adidas YEEZY products. Selling and donating was the preferred option among all organizations and stakeholders we spoke to. We believe this is the best solution as it respects the created designs and produced shoes, it works for our people, resolves an inventory problem, and will have a positive impact in our communities. There is no place in sport or society for hate of any kind and we remain committed to fighting against it."

On October 25th, Adidas announced that they had terminated their partnership with Ye, formerly known as Kanye West, in response to controversial statements the rapper made.

"Adidas does not tolerate antisemitism and any other sort of hate speech. Ye’s recent comments and actions have been unacceptable, hateful, and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect and fairness," the company said at the time.

Ye was suspended from Twitter in December just hours after he appeared on Info Wars with Alex Jones and said, "I love Jewish people, but I also love Nazis."