Handling of Sponsorship and Bounties

We have recently been approached about a sponsorship of awn along with giving priority to having specific bugs and/or feature requests. So, opening this bug to allow a discussion of the issue. I guess it breaks down into two parts, do we want to do this type of thing and assuming we do then how should it be implemented.

A couple possibilities include:

1) A bounty based sponsorship where a bug or blueprint is opened with a bounty amount assigned and one (or more) devs can agree to do the work.

2) A more general sponsorship agreement where something is agreed to for some type of payment.

Number 1) seems relatively straightforward though I believe the potential sponsor might want something along 2) in the longer term.

Anyway, this is just meant initiate the discussion. Please comment.