Just two years into his five-year, $29 million contract, Deion Sanders has propelled the Colorado Buffaloes into national prevalence. With their 2024 success, an extension could be on the horizon.
What a Deion Sanders Contract Extension Could Look Like
Before peeking into the future, we must recall the past and present.
Sanders’ 2024 salary is $5.7 million and increases by $200,000 for each year remaining on his deal. Thus, he’s set to make $5.9 million in 2025, $6.1 million in 2026, and $6.3 million in 2027. Not bad for a coach who was making roughly $300,000 per season while at Jackson State.
But the good times don’t end there, as Sanders also has several yearly incentives built into his Colorado contract:
- $750,000 if Colorado wins the College Football National Championship
- $450,000 if Colorado plays in a New Year’s Six bowl game
- $150,000 if Colorado is bowl-eligible (non-NY6)
- $150,000 if Colorado wins six games in a single season
- $150,000 if Colorado wins the Big 12 Championship
- $150,000 if Sanders is the National Coach of the Year
- $100,000 for each win following the sixth win of a season
- $75,000 if Colorado plays in the Big 12 Championship Game
- $75,000 if Sanders is the Big 12 Coach of the Year
Additionally, the deal features a salary boost for helping achieve academic success and $200,000 annually to cover private jet costs for recruiting purposes.
There’s also a clause in the contract that triggers a negotiation period following the third year — the end of the 2025 college football season. At that time, the Colorado head coach can negotiate an extension, with the option to change the base and supplemental salary, liquidated damages, and termination conditions.
However, it seems the Buffaloes could throw that clause out early — rightfully so.
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The Prime Time Effect hit hard in Boulder, and I’m not talking about on the field. Last year, Colorado saw a staggering 2,544% jump in online team store sales, gained over a million new followers across social media, sold out every home contest, and played in five of college football’s top 25 most-watched games.
It doesn’t stop there, either. Fall 2024 applications hit a record 68,000, marking a 20% jump from 2023. With 51,000 offers extended, the school increased enrollment by 3.4%, growing from 37,153 students in 2023 to 38,428 in 2024.
Furthermore, Colorado saw an increase of 51% in multimedia rights revenue, reeled in $21 million more in ticket sales, and received $16 million more in pledged gifts from boosters in Year 1 of Coach Prime’s tenure.
Currently the 38th-highest-paid head coach, according to USA Today, it’s reasonable to suspect a contract extension is right around the corner. The Buffs were 1-11 in 2022. Since Sanders landed in Boulder, they’ve gone 4-8 and 9-3, their first winning season since 2016.
A new deal would likely launch Sanders into the top 10 range, next to the likes of Lane Kiffin, Brian Kelly, and Lincoln Riley. How much would that cost, you ask? Over $9 million per year.
With three years remaining on his current contract, an extension would likely land in the 5-7 years for $9-10 million annually ballpark, ensuring Sanders stays in town rather than jump ship for a blueblood program or even the NFL.
Given the meteoric rise Colorado has seen under Sanders — on and off the field — it’s not a matter of if he gets an extension, but how soon and how massive.
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