The shoe giant made only "unpersuasive arguments" in its effort to keep the money frozen, a federal judge says.
Newly-unsealed court records confirm the shoe company is trying to keep millions in Yeezy's accounts frozen amid their high-profile business divorce.
Proceeds will be donated to various anti-racism groups.
At a meeting of shareholders, Adidas CEO Bjorn Gulden called Ye "the most creative person in our industry."
The class-action lawsuit says the company deceived investors by failing to warn them about the rapper's "problematic behavior" before ending its Yeezy deal.
Shopping for new sneakers? Adidas, Nike, New Balance and other brands are currently on sale for Cyber Monday.
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The split was reportedly due to creative differences between Ivy Park & Adidas, with Beyoncé excited to "reclaim her brand, chart her own path and maintain creative freedom."
An anonymous letter accused the company of knowing about Ye's problematic behavior and failing to protect employees.
Ye's Yeezys accounted for up to 15% of Adidas’ net income, according to analysts.