Sports sponsor ship is a form of marketing communication which experienced a drastic advance in last two decades. Great number of companies started to use it due to innovative and effective way of attracting customers, strengthening one's own image and promoting products and services as well as being accepted by sports subjects due to enormous financial gains.This paper includes theoretical part of sport, it's definition, sponsorship and sports sponsorship, reasons and attractions of sponsorship, subsequently positive and negative aspects of sports sponsorship, sponsorship contracts and finally a few examples and their analysis. A critical review on the subject of sponsorship roles, it's good and worrisome sides is also presented.It's worth mentioning that technology advances greatly contributed to strengthening of marketing and therefore sponsorship. It is inconceivable that in this time a professional athlete or sports organization does not have an online account on social media, because this is also how they connect with their fans and sponsors who financially support them.Finally, a number of life examples, number of sponsors, method of sponsorship, positioning and even sponsor behavior and concerns, financial coverage, mutual cooperation and satisfaction as the most important factor are presented.