Art Industry News is a daily digest of the most consequential developments coming out of the art world and art market. Here’s what you need to know this Tuesday, November 28.

NEED TO READ

Art Basel Settles Sneaker Row With Adidas – The shoe giant has apologized to Art Basel for launching a limited edition “Art Basel” white sneaker without the proper license or permission and the two have settled Art Basel’s lawsuit on undisclosed terms. The white shoes were distributed for free during Art Basel Miami Beach last year and soon popped up on eBay for prices starting at $249. (The Art Newspaper)

Jens Hoffmann Departs the Cleveland Triennial – The FRONT International: Cleveland Triennial for Contemporary Art announced yesterday that its co-artistic director Jens Hoffmann was “departing”—effective immediately. His fellow co-artistic director Michelle Grabner will remain on board. Hoffmann also serves as senior adjunct curator at New York’s Jewish Museum and senior curator at large at Detroit’s Museum of Contemporary Art. (Press release)

Jake Gyllenhaal to Play an Art Critic – Jake Gyllenhaal is stockpiling auction catalogues and copies of Artforum—or at least, we like to imagine he is—as he studies up to play an LA-based art critic in his next movie. The actor is “immersing himself in the LA art world” to research the Netflix film, which co-stars Rene Russo and examines the high-stakes world of billionaire collectors, blue-chip galleries, and auctions. The screenplay, meanwhile, will be penned by the writer of Kong: Skull Island. (Page Six)

The Startup Using AI to Invest in Art – Arthena has drawn a list of high-profile investors and teamed up with brokerage Charles Schwab in its ongoing quest to “democratize” art as a financial asset. The company, founded by 30-year-old Madelaine D’Angelo and her math-whiz brother Michael, uses AI to identify works between $500,000 and $1 million that could be a good investment. (Bloomberg)

ART MARKET

Sotheby’s Gets a New Vice Chairman – August Uribe returns to Sotheby’s from Phillips, where he has served as worldwide co-head of contemporary art since 2014. Before that, he held positions in Sotheby’s Latin American and Impressionist and Modern departments for 22 years. He will now become vice chairman of the Americas​. (Press release)

Donald Trump and JFK’s Art Heads to Auction – Trump’s Sharpie sketch of New York’s skyline (yes, another one), created for a charity auction in 2005, is due to be sold by Heritage Auctions on December 2. The sketch will be accompanied by a rare painting by JFK from 1955. The scene, which could be Venice, shows the then-senator’s (limited) potential as an untrained artist. (Glasstire)

Warhol Box Lawsuit Ends With Settlement – After three days of testimony at trial, a $250,000 lawsuit over the loss of a cardboard box that contained a set of prints by Andy Warhol has ended with a settlement. Heather James Fine Art first sued the art storage and insurance company Day & Meyer for losing the box in 2014; the terms of the settlement were not disclosed. (Press release)

Maria Lai to Be Repped by Marianne Boesky – The archive of the late Italian artist Maria Lai, whose fabric works were included in the Venice Biennale and documenta 14, will be represented by Marianne Boesky in New York. The gallery is bringing Lai’s work to Art Basel in Miami Beach and planning a solo show in its Aspen space in 2018. (ARTnews)

COMINGS & GOINGS

New Art Space Launches in Helsinki – The venue, called Publics, will serve as a curatorial initiative and event space under the direction of Paul O’Neill, the former director of Bard College’s graduate program for curatorial studies. “Publics explores a ‘work together’ institutional model,” its mission statement states. (ARTnews) 

VIA Art Fund Appoints 2018 Curatorial Fellow – Cathleen Chaffee, the chief curator of Buffalo’s Albright-Knox, will use the $15,000 grant to fund studio visits with artists in Lebanon, South Africa, and Egypt. This is the second year the VIA has given the award; Naomi Beckwith, curator of the Museum of Contemporary Art Chicago, was selected last year. (ARTnews)

Marlene Dumas Donates €20,000 Prize – The South African painter donated her winnings from the Hans Theo Richter Prize to help create a scholarship at the Dresden Kupferstich-Kabinett (Print Room). The prize is funded by Richter’s widow and is a one of the best endowed awards for graphics and drawing in Germany. (Monopol)

FOR ART’S SAKE

Matt Smith on Playing Robert Mapplethorpe – The former Doctor Who actor will play the legendary photographer in a biopic next year. He told the Guardian he wanted the role because “there’s something about his photos that is just… who knew, as a straight man, that pictures of penises were so utterly compelling? But they are!” (The Guardian)

Naum Gabo Sculpture Acquired by National Galleries Scotland – A sculpture by the Russian Modern artist worth £250,000 ($333,000) has been acquired by the National Gallery of Modern Art. The glass, perspex, and stainless steel work, titled Column, was gifted through the Arts Council’s Cultural Gifts Scheme by Graham Williams on behalf of himself and his wife Nina, who is the artist’s daughter. (The Herald)

Alex Da Corte Channels His Inner Eminem (Again) – The visual artist is looking a lot like Eminem these days. Josh Lilley Gallery in London is showing three new videos of Da Corte inhabiting the role of the rapper, bestowing him with art-world cred that has eluded the musician until now. (W Magazine)

Cristiano Ronaldo Sculpture Improves on the Second Try – Emanuel Santos was originally given the responsibility of sculpting a bust of the soccer star. But the resulting sculpture, which spread rapidly across the Internet, looked nothing like Ronaldo. Jose Antonio Navarro Arteaga created the second attempt, which his fans consider a vast improvement. (Nine)