This term corresponds to definition 3.
There are multiple definitions - click on the translation that matches your context.
to contribute money towards, or to pay for, a project or other activity
LookSmart's Billboard will be rotated with other sponsors of the Program.
to introduce and support a proposed new law in a legislative assembly
No member of the State Senate majority has emerged to sponsor a bill authorizing mayoral control for Buffalo's public schools.
to recommend, organise, and promote talks or negotiations between people or groups
Algeria has notified the two sides that it was ready to sponsor negotiations between them.