A term commonly used for financial or other support in the form of goods and services, given by businesses or members of the public to sports, the arts, education, charities etc. The sponsor receives something in return such as advertising or free tickets. HM Customs & Revenue Glossary
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sponsorship spon‧sor‧ship [ˈspɒnsəʆɪp ǁ ˈspɑːnsər-] noun [uncountable]
1. also sponsorships MARKETING financial support given to pay for a sports or arts event, training etc, in exchange for advertising or to get public attention:
• We are looking for sponsorship from local businesses.
• She plans to raise £6,000 in sponsorship.
• The Olympic committee will raise money from corporate sponsorships, ticket sales and merchandise.
2. the act of officially supporting a proposal or suggestion:
• The project has benefited from the personal sponsorship of the new technical director.
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sponsorship UK US /ˈspɒnsəʃɪp/ noun [C or U]
► MARKETING the act of providing money for a television or radio programme, website, sports event, or other activity in exchange for advertising: »
The company is reviewing its €6 million a year advertising and sponsorship budget.
► GOVERNMENT the act of supporting a new idea, especially a law: »
He was criticized for his sponsorship of the bill.
► the act of supporting a person, organization, or activity by giving money, encouragement, or other help: »
We have a student sponsorship scheme, sponsoring students from 18 through university.
Financial and business terms. 2012.