Sports brand Adidas has terminated its partnership with rapper Kanye West over his anti-Semitic comments in a move it estimates will impact its bottom line by up to $246 million this year alone, `Variety` reports, quoting a company statement released on Tuesday.

The sneaker brand, referring to West by his `Ye` pseudonym, said in the statement: "Adidas does not tolerate anti-Semitism 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."