The selection of cultural sectors and specific cultural institutions with which a sponsorship cooperation is to be established involves both strategic and tactical decisions. This chapter first describes the strategic process of the initial selection of arts and cultural sponsorships, in which, according to the affinity concept, relationships between sponsor and sponsored party are analyzed at various levels. The subsequent detailed selection addresses specific questions for the development of selection criteria for a sponsorship. Finally, possible communication strategies for terminating sponsorships are also explained. In addition to various practical examples, the chapter also provides an in-depth discussion of the Bayer AG case study.