Deion Sanders has officially been announced as the head football coach at Colorado. On Sunday, details of his contract with the Buffaloes were revealed.
The contract, which is pending approval by the University of Colorado Board of Regents, calls for Sanders to make $29.5 million over five years. He is scheduled to earn $5.5 million in his first year and receive $200,000 raises after each year.
CU Buffaloes reporter Brian Howell says that the total assistant coach salary pool is $5 million.
One notable aspect of Sanders’ contract is the buyout he would owe Colorado if he were to leave.
Sanders would owe CU $15M if he leaves in the first year, $10M if he leaves in the 2nd year, $8M in the third year and $5M if he leaves after that. If Colorado fires Sanders at any point without cause, the school would owe him 75% of his remaining contract. #cubuffs
— Brian Howell (@BrianHowell33) December 4, 2022
If Sanders were to leave in the first year, he would owe $15 million. He would owe $10 million if he left in his second year, $8 million in the third year, and $5 million thereafter.
Sanders is one of the hottest names in college football. If he can turn around Colorado, which went 1-11 this season, he would attract interest from some major programs willing to pay him even more money. A big program like an SEC school would be willing to pay Sanders’ buyout if they wanted to get him.
But if Deion were to leave in one of the first two years, those $10 or $15 million figures would not be insignificant. Those big numbers are at least insurance for Colorado in taking the chance on Sanders.
