With just days to go before the Oscars (they鈥檙e finally here 鈥 eeeee!), Chanel head designer and creative director Karl Lagerfeld dropped a bombshell about a red carpet regular that no one saw coming.

LOS ANGELES, CA - FEBRUARY 24: Actress Meryl Streep arrives at the 10th Annual Women In Film Pre-Oscar Cocktail Party at Nightingale Plaza on February 24, 2017 in Los Angeles, California. (Photo by Jon Kopaloff/FilmMagic)

According to the fashion guru, Meryl Streep had ordered a gray Chanel gown for the event, but had asked the team to add a higher neckline to it. Once alterations had begun, Lagerfeld said he received a call from Streep鈥檚 team, who told him to stop production, as they had 鈥渇ound someone who will pay us.鈥

Chanel notoriously refuses to pay celebrities to wear its designs on the red carpet as a matter of policy, although they are free to keep the dresses that they wear. While Lagerfeld says he鈥檚 still willing to give Streep the gown (鈥淪he could keep the dress because of the size. It鈥檚 couture. It鈥檚 perfect for her鈥), he threw a dagger her way by telling Women鈥檚 Wear Daily, 鈥淎 genius actress, but cheapness also, no?鈥

Once news of the story broke, with Streep鈥檚 team immediately denying the claims, Lagerfeld backtracked a bit (perhaps he saw her Golden Globes speech?), reaching out to the magazine to clarify his statements. 鈥淐hanel engaged in conversations with Ms. Streep鈥檚 stylist, on her request, to design a dress for her to wear to the Academy Awards,鈥 he said. 鈥淎fter an informal conversation, I misunderstood that Ms. Streep may have chosen another designer due to remuneration, which Ms. Streep鈥檚 team has confirmed is not the case. I regret this controversy and wish Ms. Streep well with her 20th Academy Award nomination.鈥

MILAN, ITALY - FEBRUARY 23: Designer Karl Lagerfeld is seen backstage ahead of the Fendi show during Milan Fashion Week Fall/Winter 2017/18 on February 23, 2017 in Milan, Italy. (Photo by Tristan Fewings/Getty Images)

Streep, however, is having none of it, issuing her own (epic) statement to E! News. 鈥淚n reference to Mr. Lagerfeld鈥檚 鈥榮tatement,鈥 there is no 鈥榗ontroversy鈥: Karl Lagerfeld, a prominent designer, defamed me, my stylist, and the illustrious designer whose dress I chose to wear, in an important industry publication. That publication printed this defamation, unchecked. Subsequently, the story was picked up globally, and continues, globally, to overwhelm my appearance at the Oscars, on the occasion of my record-breaking 20th nomination, and to eclipse this honor in the eyes of the media, my colleagues, and the audience. I do not take this lightly, and Mr. Lagerfeld鈥檚 鈥榞eneric鈥 statement of regret for this 鈥榗ontroversy鈥 was not an apology. He lied, they printed the lie, and I am still waiting.鈥

Dang. Is is just us, or is anyone else having flashbacks to The Devil Wears Prada? (We won鈥檛 lie: We were TOTALLY rooting for a 鈥淭hat鈥檚 all鈥 in closing!)

Here鈥檚 to hoping these two don鈥檛 bump into each other on the red carpet tonight, should Lagerfeld also attend 鈥 we certainly wouldn鈥檛 want to be on the receiving end of that speech, should she get her big win!

Are you Team Karl or Team Meryl? Sound off over @BritandCo.

(h/t E! News, photos via Steve Granitz, Tristan Fewnings, + Jon Kopaloff/Getty)