Report: Colorado, Deion Sanders reach five-year, $54 million contract extension

Deion Sanders has rejuvenated the Colorado Buffaloes, and he’s getting rewarded for it. According to Brian Howell of the Boulder Daily Camera, a new five-year, $54 million contract for Coach Prime has been approved by the board of regents. It’ll make him one of the highest-paid coaches in the country.

The contract will pay Sanders $10 million in each of the first two seasons, $11 million in Year Three and Year Four, and finally $12 million in Year Five, per Howell. It runs from 2025 until 2029. He flirted with the Dallas Cowboys opening, but it’s evident Sanders is committed to turning Colorado into a contender, and he’s being paid handsomely to get it done.

After the news broke, Colorado added a press release confirming the news. Buffaloes Athletic Director Rick George was exuberant in his statement, believing the sky is the limit for the program under Coach Prime’s leadership.

“Coach Prime has revolutionized college football and in doing so, has restored CU football to our rightful place as a national power,” said George, via the press release. “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.”  

Additionally, Sanders made sure to comment, as well. He ended his statement with a hilarious tongue-in-cheek comment, but he realizes there’s work to be done, and Colorado is far from where it wants to be at the moment — on top of the college football world.

“I’m excited for the opportunity to continue building something special here at Colorado,” Sanders stated. “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?”

In two season with the Buffaloes, Sanders is 13-12 — they went 4-8 his first season, but they shocked the world and went 9-4 in 2024, their first season back in the Big 12 Conference. His son Shedeur Sanders won’t be playing quarterback in 2025 for the team, so that’ll be a new challenge, but doubt Coach Prime at your own risk.

Deion Sanders has proven his detractors wrong every step of the way, and Colorado’s full belief is behind him. We’ll see where they are at the end of this contract, but with the expanded College Football Playoff, anything is possible for Coach Prime.