Definition of 'crony' n informal: A friend of longstanding. Often used pejoratively to refer to the 'crony' receiving an unfair advantage.
Origin
17th-century British student slang derived from the Greek word chronios, meaning "long-lasting" or "of a long time.
Usage
This satirical cartoon by Robert Cruikshank demonstrates an alleged network of personal connections among those then running Guys Hospital in London in 1830.
It highlights cronyism (allocating advantages to friends and/or associates who are personally beholden to you).
Pointedly, the subtitle of Cruikshank's cartoon is 'Servility Rewarded'. The notion of cronyism often implies corruption - the exchange of favour for the indulgence of illegality.