Why Colorado Buffaloes Rewarded Deion Sanders With Lucrative Contract Extension

On and off the field, coach Deion Sanders has made quite an impact on the Colorado Buffaloes football program since his arrival in 2022. "Coach Prime" led the Buffs to 13 combined wins in his first two seasons while also benefiting the university and Boulder community in countless aspects.

Sanders initially signed a five-year, $29.5 million deal, but he quickly outgrew what was then the largest head coach contract in program history. After months of speculation, Colorado officially rewarded Sanders with a well-deserved contract extension on Friday, inking "Coach Prime" to a five-year, $54 million agreement. At an average of $10.8 million per year, Sanders is now the highest-paid head coach in the Big 12 Conference and the fourth-highest-paid in college football.

Offering $54 million, plus several performance-based incentives, is an incredible show of respect considering Colorado doesn't have nearly the same resources as college football's upper-level programs. However, athletic director Rick George and other CU higher-ups have confidence that Sanders is worth the investment. You have to spend money to make money, right?

This past season, the Buffs sold out Folsom Field four times and were televised nationally in all 13 games. According to CU, home games produced $93.9 million in direct economic impact to Boulder and $146.5 million in regional economic impact. The Colorado football team also posted its highest GPA in program history last semester at 3.11.

Going further into Sanders' impact on the university, CU saw a 20% increase in applications from one year ago, including a 50.5% increase in applications from Black/African American students.

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The "Prime Effect" isn't lost on University of Colorado Boulder chancellor Justin Schwartz.

"CU Boulder is one of the most innovative campuses in the country, so it's only natural and appropriate that we have the most innovative coach as well," Schwartz said in a press release. "Coach Prime has done a masterful job transforming CU Boulder's football program into the must-watch matchup nationwide, week after week, and I'm excited to see what the team will accomplish under his leadership in the next five years. He is also committed to a program with the highest level of integrity that emphasizes our student-athletes' academic performance and helps them achieve their post-football career goals."

With great pay comes great responsibility, however. "Coach Prime" and George have their sights set on a conference championship and beyond as Colorado prepares for its second season back in the Big 12 Conference.

Sep 16, 2023; Boulder, Colorado, USA; Colorado Buffaloes athletic director Rick George before the game against the Colorado State Rams at Folsom Field. Mandatory Credit: Ron Chenoy-Imagn Images | Ron Chenoy-Imagn Images

"This extension not only recognizes Coach's incredible accomplishments transforming our program on and off the field, it keeps him in Boulder to compete for conference and national championships in the years to come," George said.

Colorado will enter next season without the services of projected first-round NFL draft picks Shedeur Sanders and Travis Hunter, but "Coach Prime" has expressed his belief that the Buffs are a better overall team.