Sponsorships
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Do sponsorships work in road to the show? If so, how do I equip them and what effect does it have on my player?
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No. They are franchise items
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How do I use them
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There is a tab in the main row (3 or 4 right of 'play next game') that lets you choose your sponsors.
Just so you know, sponsorship only affects the current year's cash. It does not accrue.
And, afaik, the only useful thing to do with cash is hiring coaches and scouts.
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I was not able to find the sponsorship tab. Can anyone help me, please?
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There would be no point, so the answer is no. All the sponsorships do is add revenue to your Franchise team, which is one of the metrics by which as the GM you are judged on your job performance within that game mode.
There is no association between the sponsorships obtained within Franchise and those of any other game mode.