Top Adidas execs took only 2 minutes to make their final decision to cut ties with Kanye West, a report says

• Adidas execs held an "undramatic" two-minute call where they decided to cut ties with Ye, per Bloomberg.
• Management had postponed an announcement so they could seek advice from US legal firms, the report said.

Adidas executives took only two minutes to make their final decision to cut ties with Kanye West, following the outcry over his antisemitic remarks, Bloomberg reported.

Speculation was rife since Gap and Balenciaga had already announced their split with the rapper, now known as Ye, but Adidas was the last to comment before officially terminating the partnership on October 25.

This delay was reported because Adidas' top management wanted to get the all-clear from two American law firms. After getting that feedback, executives reached their decision in two minutes. The phone call was described as "undramatic," per Bloomberg.

Adidas then put out its press release, denouncing Ye's comments as "unacceptable, hateful and dangerous."

Europe's largest sportswear manufacturer added that the termination was expected to cost them $246 million in profit this year. Speaking to Bloomberg, a Morgan Stanley analyst estimated that the Yeezy line was responsible for more than 40% of Adidas' profits, to the tune of $1.8 billion in annual sales.

Ye's antisemitic comments were the final straw in a profitable but stormy relationship. Many fans and Adidas workers began to turn against the rapper when he wore a "Make America Great Again" hat in 2018.

During the wave of protests surrounding the 2020 murder of George Floyd, Adidas employees protested that the company marginalized Black workers. They also complained about Adidas' reluctance to comment on West's controversial statements about slavery.

According to Bloomberg, Ye had accused Adidas of copying his ideas and demanding a seat on the supervisory board. When Adidas announced that Kasper Rorsted would step down as CEO, the rapper posted, then deleted, a fake New York Times front page about his death.

Forbes estimates that Ye's net worth has dropped from $1.5 billion to $400 million following the backlash over his antisemitic comments.

Adidas declined to comment beyond its initial statement on terminating the partnership with Ye. The company is expected to provide more information about the situation on November 9.