Nike officially cut ties with NBA player Kyrie Irving, the sports apparel company said on Monday.

Irving's contract with the Oregon-based company was suspended over a month ago after he tweeted a link to an antisemitic movie and declined to condemn antisemitism while facing heavy scrutiny. The movie reportedly contains conspiracy theories about Jewish people and language that denies the Holocaust.

"At Nike, we believe there is no place for hate speech and we condemn any form of antisemitism," the company said in a statement at the time.

Nike was set to launch the Kyrie 8 basketball shoe in late November in continuation with the player's shoe line. The launch was canceled and the remaining slate of Kyrie 8 shoes has since been discounted on the Nike website.

Irving's agent, who joined his team in March and is also the player's stepmother, said that his departure from the brand was a mutual decision.

"We have mutually decided to part ways and wish Nike the best in their future endeavors," Shetellia Riley Irving said.

Kyrie Irving had been under contract with Nike since 2014 in a deal believed to be worth around $11 million.

He did not comment on the split but tweeted a video late Monday morning that was captioned: "There's nothing more priceless than being free."

Nike's co-founder Phil Knight told CNBC following the suspension that the company would likely not work with Irving again, foreshadowing the official business termination.

"I would doubt that we go back," Knight said in a Nov. 10 interview. "But I don't know for sure."

"Kyrie stepped over the line. It's kind of that simple. He made some statements that we just can't abide by and that's why we ended the relationship. And I was fine with that," Knight said.

Kyrie Irving, who is considered one of the top players in the NBA, was also suspended by the Brooklyn Nets after he "refused to unequivocally say he has no antisemitic beliefs."

He later issued an apology on Instagram and also told reporters that he doesn't "stand for anything close to hate speech or antisemitism or anything that is going against the human race."

Kyrie Irving returned to play for the team on Nov. 20 following a series of actions that he was required to complete including a meeting with NBA Commissioner Adam Silver. He missed a total of eight games.

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