you can also easily set up private tourneys on pokerstars and
fulltilt. Not freerolls, but buy-ins. (freerolls take more work and are generally frowned on for the most part at these 2 rooms for affiliates). Stars min is $10+1 and Tilt's is $5+.50. You can also do double stack events at
Full Tilt but the min there is $10+1.
As far as affiliate sponsoring the $$, both Tilt and Stars allow you to transfer funds, so it wouldn't be a straight sponsorship but you could offer bonuses on top of the normal prize pools.