If you are sponsoring a sporting club or event, you should put a Sponsorship Contract in black & white. It will help you protect your rights, ensure you receive the benefits you're paying for and protect your intellectual property.
Likewise, if you’re taking on a sponsor, make sure you get the contract in writing so you get paid. And, so you are clear with your sponsor about what they will receive. That way, you can deliver on realistic expectations and keep your sponsors happy.