About Us


Who we are

The Sports Image Rights Expert Limited is a boutique consultancy firm, offering expert advice on the business and commercial aspects of International Sports Image Rights. International Image Rights arrangements have been used extensively during the past couple of decades since they facilitate the commercial use of sports professionals’ image rights throughout their movement from team to team and from one country to another while taking advantage of the sports persona’s international exposure in a number of countries.

Throughout the years, and even more so lately, there has been a lot of controversy around image rights arrangements. A large number of such arrangements lack commercial sense as they do not reflect the commercial reality of the particular situation and as a result have been characterized as ‘artificial arrangements’ with their only raison d’etre, the avoidance or evasion of taxation.

The team of the Sports Image Rights Expert limited, with its vast professional experience in the field of International Sports Image Rights, is here to advise and guide sports professionals, sports clubs and sports agents on how to maximize the value of a sports professional’s image rights in the international sports arena while complying with both regulatory and other compliance provisions. Moreover, the Sports Image Rights Expert team conducts valuations of the Sports Professionals’ Image through the use of the bespoke methodology of the APC Brand Evaluator ®. We consider that the Valuation of the Sports Professional’s Image is the starting point for any image rights arrangement as it gives an indication of the commercial value that a sports persona possesses.

Our Mission

Our mission is to become the Sports Industry’s trusted advisor in valuing and commercializing  International Sports Image Rights.  We intend to do that by helping sports organizations and sports clubs formulate the necessary standards and policies in this field, and by guiding, supporting and protecting Sports Professionals, in maximizing the value of their Sports Image Rights.  Our clients appreciate our unique ability to draw upon the depth of our professional knowledge and experience, while working together with their legal and tax advisors, to provide the best solutions possible within the realm of the relevant laws.

Our aim is to contribute to the success of our clients by providing high-quality and attentive service.  We commit to do that by establishing a personalized business support system, tailor-made to address our clients’ special needs, taking into account the varying facts of each particular case. In other words, ours is a bespoke and holistic approach.

Our People

Athena P. Constantinou

Sports Image Rights Advisor and Valuer

Our senior leadership team is headed by our Managing Director, Athena P. Constantinou. Mrs. Constantinou holds a bachelor degree in Business Administration, with specialization in Accounting and Business Law, from the Bernard M. Baruch School of Business of the City University of New York. She also holds a Masters’ in Business Administration (MBA) in Computer Information Systems from the Bernard M. Baruch School of Business of the City University of New York. She is a Certified Public Accountant, licensed in the State of New York USA, and she is an International Member of the American Institute of Certified Public Accountants and a member of the AICPA Forensic and Valuation Services section. She also holds a Chartered Global Management Accountant certification, she is a Certified Financial Education Instructor accredited by the National Financial Educators Council in the USA, and she is a board member of the Sports Financial Advisers Association in the U.S. She is also an associate member of the Sports Lawyers Association.
Mrs. Constantinou has had considerable professional experience at an international level in the fields of tax, business consulting and business valuations, advising high net worth individuals and entities in the sports and entertainment industries for more than 30 years. She has practiced as a CPA for a number of years in New York City with in depth involvement in international tax planning and business consulting. During the past decade she has been heavily involved in providing advice to Sports stakeholders and individuals, in connection with tax optimization, development, valuation, commercialization and management of Image Rights/NIL of Sports Celebrities worldwide.


Prof Dr. Ian Blackshaw

International Sports Image Rights Consultant

Prof. Dr. Ian Blackshaw is an international sports lawyer, academic, author and member of the Court of Arbitration for Sport, Lausanne, and the WIPO Arbitration and Mediation Center, Geneva, Switzerland.
Amongst other things, he is an acknowledged international expert on the legal protection, commercial exploitation and tax sheltering of sports image rights and gives ‘Master Classes’ on this subject around the world.
Amongst his published works, he is the editor and contributor to the Book ‘Sports Image Rights Europe’; author of the Book ‘Sports Marketing Agreements: Legal Fiscal and Practical Aspects; and author of the Book ‘International Sports Law: An Introductory Guide’. All of these Books are published by the TMC Asser Press in The Hague, The Netherlands.
He is a visiting Professor at several Universities in Europe and elsewhere, including South Africa and South Korea, and is Consulting Editor of ‘Global Sports Law and Taxation Reports’.
He has also held a number of senior in-house international legal positions, including European Counsel of The Coca-Cola Company and Counsel Europe Middle East Africa of RJR Nabisco.


Achilleas Zapounis

Director of Valuation Services

Achilleas Zapounis holds a Bachelor’s degree in Accounting and Finance from the University of Bath. Additionally, Mr. Zapounis is a Chartered Accountant and a member of the Institute of Chartered Accountants of Scotland (ICAS).

Mr. Zapounis began his career in the Audit Practice of a Big-4 firm in London, specializing in the non-life insurance sector, before transitioning to the Transaction Advisory Practice. Since October 2020, Mr. Zapounis has been overseeing the assessment of a sports celebrity's image, determining their commercial value. This complex process requires a blend of evaluating intangibles and understanding the dynamics of a sportsperson's evolution into a celebrity. Furthermore, under his supervision, the team at The Sports Image Rights Expert evaluates various investment types in Image Rights of athletes. This includes examining investment avenues, risk identification and mitigation, and providing comprehensive reports tailored to investor needs.

In his role, Mr. Zapounis offers a range of services, including:
• Ascertaining the commercial value of a sports professional’s image.
• Advising on enhancing and maximizing the profits from the Sports celebrity brand.
• Conducting third-party reviews of sports celebrity image valuations.

His contributions have been vital in establishing The Sports Image Rights Expert’s position in this niche area, enabling clients to make informed decisions based on the sophisticated and specialized valuation of sports celebrity images and Image Rights investments.


Marianna Kazazi

Marketing and Branding Executive

Marianna Kazazi holds a Bachelor’s degree in BA Marketing from Coventry University, United Kingdom. Her expertise resides in the domains of business marketing and branding, and she has been a key contributor in assisting our clients in navigating the intricate landscape of sports image rights.

Her extensive experience in managing multiple brands’ social media profiles and implementing digital marketing strategies in the business world, has provided her with a keen understanding of the evolving digital landscape. She leverages this knowledge to assist athletes in cultivating and sustaining resilient personal brands in today’s rapidly changing online environment.