Colorado, Deion Sanders reach 5-year, $54 million extension

Deion Sanders just got paid.

Kirby Lee-Imagn Images

After two years, Colorado is making a significant investment in football coach Deion Sanders.

Sanders and the school have agreed to a five-year, $54 million contract extension that has been approved by the Colorado board of regents, according to the Boulder Daily Camera.

The contract will pay Sanders $10 million in each of the first two seasons, $11 million in the third and fourth years each, and $12 million in the fifth year, according to the report.

Sanders expressed appreciation for the agreement and said there’s more work to be done.

What does the buyout language in the contract indicate?

If the coach leaves Colorado before New Year’s Eve of this year, that number amounts to $12 million. It falls to $10 million before Dec. 31, 2026, to $6 million before Dec. 31, 2027, to $4 million before Dec. 31, 2028, and to $3 million before Dec. 31, 2029.

“Coach Prime has revolutionized college football and in doing so, has restored CU football to our right place as a national power,” Colorado athletic director Rick George said in a statement.

“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.”

“I’m excited for the opportunity to continue building something special here at Colorado,” Sanders said in a press release.

“We’ve just scratched the surface of what this program can be. It’s not just about football; it’s about developing young men who are ready to take on the world.

“I’m committed to bringing greatness to this university, on and off the field. We’ve got work to do, and I wouldn’t want to be anywhere else but here, making history with these incredible players and this passionate fan base. Lastly, anybody got at least a five bedroom home with acreage for sale?”

(Report)

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