Will Smith keeps his Oscar, but the Academy vetoes it for ten years
Will Smith was convicted. For the next ten years, the Academy removes him from all events, including the Oscars.
Will Smith may have the Oscar for Best Actor for "King Richard," but the Academy has vetoed it. So the actor stays ten years without being able to participate in any event of the Academy; that's how clear they have left it. Through a press release, this information has been confirmed. And it is that during the week, it was announced that the organizers would advance the meeting for this Friday, when initially it had been scheduled for next April 18.
Everything was brought forward after the actor – Will Smith – announced his resignation from The Academy, which is why they decided that there was no point in waiting until the 18th to deliberate.
In the statement shared with the press, the Academy stated that the last Oscar awards ceremony was destined to be a celebration. Instead, said party, they say verbatim: "It was overshadowed by the unacceptable and damaging behavior that we saw Mr. Smith exhibit on stage." They also added that they did not know how to react appropriately: "During our broadcast, we did not adequately address the situation in the room." Finally, they accepted their mistake, and now they see public apologies again: "For this, we are sorry. It was an opportunity for us to set an example for our guests, spectators, and our academy family around the world, and we were not prepared for anything unprecedented.
Regarding today's meeting, they comment that the Board of Governors convened the meeting we are talking about here, where they say they accepted the resignation of Will Smith and therefore decided that: "For a period of 10 years from April 8, 2022, Mr. Smith will not be permitted to attend any Academy event or program, in person or virtually, including but not limited to the Academy Awards." Most importantly, Will Smith has been banned from the Oscars for a decade.