Money reportedly provided by old man for sweet (8)
I believe the answer is:
lollipop
'for sweet' is the definition.
(lollipop is a kind of sweet)
'money reportedly provided by old man' is the wordplay.
'money' becomes 'lolly' (slang term).
'reportedly' indicates a 'sounds like' (homophone) clue.
'provided by' is a charade indicator (letters next to each other).
'old man' becomes 'pop' (both can mean one's father).
'lolly' is a homophone of 'lolli'.
'lolli'+'pop'='LOLLIPOP'
(Other definitions for lollipop that I've seen before include "Sweet for suckers?" , "Candy on a stick" , "Boiled sweet" , "Nutcracker Suite, say" , "Popsicle" .)