About Us


Who we are

 APC Image Rights Advisors Ltd is a boutique consultancy firm, offering expert advice on the business, tax and legal aspects of International Sports Image Rights.  International Image Rights Structures and arrangements have been used extensively during the past decade since they facilitate the exploitation of the sports celebrities’ 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 structures 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. 

APC Image Rights Advisors Ltd, 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 within the provisions of the corresponding tax legislation.  Moreover, APC conducts valuations of the Sports Celebrity Image through the use of the bespoke methodology of the APC Brand Evaluator ® which APC has developed and trademarked.  We consider that the Valuation of the Sports Celebrity 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 the field of International Sports Image Rights, who will help sports organizations and sports clubs formulate the necessary standards and policies in this field, and who will guide, support and protect Sports Professionals, Clubs and Agents, in maximizing the value of Sports Image Rights, while adhering to all applicable tax and other legislation.  Our clients appreciate our unique ability to draw upon the depth of our professional knowledge and experience 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, she is a member of the Sports Financial Advisers Association, the British Association for Sport and Law, the International Tax Planners Association and the International Wealth Planners Association. 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 structuring, development, valuation, commercialization and management of Image Rights of Sports Celebrities worldwide.


Prof Dr. Ian Blackshaw

International Sports Image Rights Legal 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.