The University of Colorado has approved a new five-year contract for coach Deion Sanders that will nearly double his annual pay to $10 million and more through 2029, making him one of the nation’s highest-paid coaches.
Sanders earned $5.7 million in guaranteed pay last year and recently entered the third year of a five-year contract that ran through 2027. His new deal adds two years to that and makes one of only nine-public-school head football coaches paid at an annual rate of $10 million or more. His guaranteed pay also would rank first among public schools in the Big 12 Conference according to USA TODAY data for last year. Last year, he ranked fourth in that group.
‘I’m excited for the opportunity to continue building something special here at Colorado,’ Sanders said in a 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?’
Sanders, also known as Coach Prime, was hired at Colorado in December 2022, when the Buffaloes were coming off of a 1-11 season as one of the worst programs in America. He went 4-8 in his first season in 2023 and 9-4 in 2024, pushing Colorado to extend his contract as speculation swirled about his future.
Why Colorado gave Deion Sanders this new contract
In addition to drastically improving the football program , Sanders, 57, brought massive interest and national attention to the university because of his fame, flamboyant personality and the star players he brought with him, including his quarterback son Shedeur and two-way star Travis Hunter, who won the Heisman Trophy in December.
He also arguably changed the game with his unconventional approach − building a roster with transfer players while showcasing his program to recruits on YouTube.
The new contract was obtained by USA TODAY Sports Friday after it was approved by the CU Board of Regents. It calls for him to be paid monthly at a $10 million annual rate this year and next year before increasing to $11 million in 2027 and $12 million in the final year of the deal in 2029.
It also increased what it would cost to buy out his contract if he voluntarily left Colorado before his contract expired. His previous contract would have cost him $8 million to buy out his contract in 2025 and $5 million in 2026. His new contract calls for him to pay Colorado $12 million to buy out his contract in 2025, $10 million in 2026, $6 million in 2027, $4 million in 2028 and $3 million in 2029.
“Coach Prime has revolutionized college football and in doing so, has restored CU football to our rightful place as a national power,” CU 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.”
Follow reporter Brent Schrotenboer @Schrotenboer. Email: bschrotenb@usatoday.com
(This story was updated to add new information.)
