Benefits - loads of money and they regularly pump money into the club and usually very ambitious, ie have the money & desire to improve training, youth, stadium, squad, etc
Pitfalls: will want success - deliver or else, imagine what would happen to Chelsea if Abramovich sold the club tomorrow, Ballacks £130,000 per week is not that bad now but without Abramovich paying the wage bill they're screwed, you would have to sell to lower it and every other club would know you needed to lower it so you wouldn't get big money for your players.
Overall it makes your game much easier having a sugar daddy but be prepared for him disappearing a couple of years down the line.
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Sugar Daddy 
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