Colorado coach Deion Sanders has earned a 5-year, $54 million contract extension that runs through the 2029 season, making him one of the highest paid coaches in the country, according to a copy of the contract obtained by ESPN on Friday.
Sanders’ base salary will increase to $10 million in 2025, making him the highest-paid football coach in the Big 12, and among the top-10 highest-paid head football coaches in the country, according to Colorado. According to the contract, Sanders will earn another $10 million in 2026, $11 million in 2027, $11 million in 2028, and $12 million in 2029.
If Sanders accepts another coaching job before the end of the contract, his buyout would start at $12 million if he left on or before Dec. 31, 2025, followed by $10 million in 2026, $6 million in 2027, $4 million in 2028 and $3 million in 2029. He can retire from coaching, though, without having to pay damages to the university – as long as he doesn’t retire and then return to coaching somewhere else.
Sanders, who inherited a program that went 1-11 in 2022, has led the Buffaloes to nine wins and a bowl berth in two seasons. According to Colorado, which announced Sanders’ extension on Friday, the football program has also been one of the most-watched teams in sports with over 54 million viewers throughout the 2024 season. That includes eight million viewers who watched Colorado lose to BYU, 36-14, in the Alamo Bowl, the highest viewership in the 32-year history of the event.
“I’m excited for the opportunity to continue building something special here at Colorado,” Sanders said in a prepared statement. “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?”
The university cited Sanders’ impact on the school and its community, noting that applications have increased 20% from a year ago to over 67,000, including an 18% increase in applications from out-of-state. According to the school, applications from prospective students who identify as Black/African American increased 50.5%, and applications from prospective students who identify as non-white increased 29.3%.
Colorado also sold out all but two home games last fall, marking the first time the Buffs have sold out for or more games in back-to-back seasons since 1995-96. This past season, home football games generated a combined $93.9 million in direct economic impact to the City of Boulder and $146.5 million in total regional economic impact.
“Coach Prime has revolutionized college football and in doing so, has restored CU football to our rightful place as a national power,” Colorado athletic director Rick George said in a prepared 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.”
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