Deion Sanders buyout: Report reveals cost for Dallas Cowboys to hire Colorado coach

With the Dallas Cowboys looking for a new head coach, Deion Sanders has emerged as a candidate. Reports state there have been conversations between Sanders and Dallas owner/general manager Jerry Jones shortly after moving on from Mike McCarthy. But if Sanders is going to be hired, a buyout is going to have to be paid.

According to Benjamin Allbright, the Cowboys would have to pay Colorado an $8 million buyout to hire Sanders. He adds the second-year CU head coach could just be making a leverage play, while Jones is being the businessman he knows how to be.

“Jerry would owe Colorado $8mil buyout if he were to actually hire Deion Sanders away,” Allbright said via X. “Most people I know look at this as a contract leverage play from Sanders’ side and Jerry being PT Barnum from the Dallas side.”

Sanders has been at Colorado for two seasons, having a 13-12 record. Year Two was a whole lot better than Year 1, improving to a 9-3 regular season before losing the Alamo Bowl to BYU. Going back to his time at Jackson State, there has been on-field success for Sanders at the college level.

Paying buyouts is nothing new to the college game but not as widely discussed in the NFL. Jones willingly shelling over a good amount of cash to hire any coach, let alone Sanders, would likely raise a few eyebrows.

As of now, no formal interview has taken place, as of Monday night. Since Sanders is a college coach, there is no need for Dallas to put in a request.

Adam Schefter adds fuel to Deion Sanders, Dallas Cowboys speculation

ESPN’s Adam Schefter added some fuel to the speculation surrounding Sanders and the Cowboys on Monday. Schefter revealed a former NFL general manager even called his shot around 2022, predicting Coach Prime would land in Dallas.

“They have spoken with amongst other candidates, Deion Sanders,” Schefter said at halftime of Lions-Vikings. “There is a mutual interest there. I go back to a year and a half ago when I had a former general manager say to me ‘Watch Deion Sanders. There’s a real possibility he may be the next head coach of the Dallas Cowboys.’ Well, there is mutual interest. We’ll see if that amps up but the two sides have talked, have touched base.”