What is the name of your state (only U.S. law)? CO
Besides maybe a contract between myself and the individual, do I have to have a license or anything else to sponsor am athlete.
By Sponsor I mean I will give them free training gear and financial assistance for travel, and in return I will ask them to use my T-Shirt and carry my banner etc. Is a license or anything else needed?
While a carefully worded contract should suffice for covering the details of your agreement with the athlete, it really depends on what your overall intentions are here as to whether any license or release would be needed.
If you are providing dollars to the athlete in exchange for the athlete wearing your apparel and advertising your product (business, website, whatever), then a contract alone will do.
If, in addition, you also want to use this athlete's image in your advertising, then you will need a release from the athlete to use his/her image (which generally would include paying for these rights).
And, you would also need to license from any photographer their copyrighted photos of this athlete, if you find some photos you are interested in and wish to use them in any way, say for an advertising campaign of some sort.
There are a few items that should be considered, depending on what sort of athlete you intend to sponsor. If you are sponsoring an amateur athlete, the sponsorship could affect this athlete's status as an amateur. Also, a contract that includes a non-compete clause could affect the athlete's future sponsorship deals.
Because contracts are legally binding agreements, or should be if written properly, I advise you to contact an attorney to help draft the contract and to make sure that all that you want to accomplish with this sponsorship is covered adequately and legally.
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