Quit sponsorships?

I just got the game and I’m having my title fight, I have a “Mandatory” hype event that costs 100 weekly points, the problem is that every week my sponsorship costs me 5 hype points , I’m not sure what to do or what happens when I don’t do the mandatory events, I also don’t want to risk it and lose my title fight as I’m nearing retirement and this might be my characters last fight. Is there anyway for me to quit my Sponsorship or something??!