You will not be able to associate any local companies that are flagged as a "Sponsoring Company Only" with teams. To remove the "Sponsoring Company Only" flag from the company:
  1. Select Fundraising > TeamRaiser
  2. Search for your event and click Manage
  3. Select the Local Companies tab
  4. Search for your company and click Define Sponsorship Details
  5. Unmark the "Yes, this is a sponsorship company only and will not be associated directly with teams" checkbox
  6. Click Save