In sports sponsorship studies, the congruent relationship of the three event entities, that is, the participants, sponsors, and sponsored event, and its effects on participants' favorability toward the sponsors has received limited attention. In this study, we investigate the effects of the participants' enjoyment of the event, brand identification, and event-sponsor fit on their favorability toward sponsorship. We collected 346 samples from the 2009 21st Summer Deaflympicsin Taipei to examine a structured relationship model using partial least squares regression. The empirical results indicatethat the participants' enjoyment of the event, sponsor identification, and event-sponsor fit had positive effects on sponsorship favorability. The participants' enjoyment of the event was the antecedent of brand identification, which subsequently affects the impact of event-sponsor fit on sponsorship favorability. The event-sponsor fit had a mediating effect on the relationship between sponsor identification and sponsorship favorability in the model. The results of this study provide managerial insight for the organizers and sponsors of sports events.