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The Collaborative International Dictionary of English v.0.48 (gcide)

Sponsor \Spon"sor\ (-s[~e]r), n. [L., from spondere, sponsum, to
engage one's self. See {Spouse}.]
1. One who binds himself to answer for another, and is
responsible for his default; a surety.
[1913 Webster]

2. One who at the baptism of an infant professes the
Christian faith in its name, and guarantees its religious
education; a godfather or godmother.
[1913 Webster]

3. A person who vouches for another as fit for some post or
task; as, one needs two sponsors to be considered for
membership.
[PJC]

4. A person or group that assumes financial responsibility
for some activity, and may or may not participate in its
organization and execution.
[PJC]

5. A person or organization, usually a commercial
organization, which pays the cost of an activity, such as
a radio or television broadcast, and in return is given
the right to advertise itself or its products as part of
the activity; as, now a word from our sponsor.
[PJC]