Benefactor putting track around poles (7)
I believe the answer is:
sponsor
'benefactor' is the definition.
(I know that benefactor can be written as sponsor)
'track around poles' is the wordplay.
'track' becomes 'spoor' (spoor is a kind of track).
'around' means one lot of letters goes inside another.
'poles' becomes 'ns' (North and South poles).
'spoor' placed around 'ns' is 'SPONSOR'.
'putting' acts as a link.
(Other definitions for sponsor that I've seen before include "surety" , "Provide finance for" , "Promoter, godparent" , "Help fund a sporting or artistic event" , "Finance (an event)" .)