The purpose of this study is to examine the area of sponsorship, the background to sponsorship, its growth and expansion and its effectiveness for drinks companies who sponsor sporting events in Ireland today. Definitions of sponsorship will be explored and the growth of sponsorship will be looked at. The various types of sponsorship will be examined along with their objectives and how companies leverage and implement these sponsorship arrangements. The author will explain how companies evaluate their sponsorships and sponsorship will be compared to the other elements of the marketing mix in the hope of gaining an insight into why sponsorship has grown and become a very important element of the marketing mix.