Deion Sanders Colorado Contract: Salary, Bonuses, Buyout

Don’t look now, but Deion Sanders has the Buffaloes cruising in Year 2 of the Colorado experiment. 

After an uninspiring four-win campaign in 2023, Sanders’ coaching chops were scorned and belittled by many media members, including me. Colorado seemed like it might be all flash, no substance, and the college football odds market was fading the Buffs all the way to the bank. 

But in 2024, Sanders and Colorado have played their hand well. The team caught fire after a successful Hail Mary against Baylor in late September. 

Since then, the Buffs have beefed up their record against mid-table Big 12 teams and found themselves in position for a potential berth in the Big 12 championship game. Colorado football odds have rarely been a better bet. 

Sanders is definitely earning his salary this year, and he’s in line to cash some nice bonuses, too.

Deion Sanders Salary

Deion Sanders’ total salary in his second year as head coach of Colorado football is approximately $5.7 million. 

His base pay is $500,000, with the remainder of his compensation tied to various media obligations, promotional duties, and student-athlete development.

The value of Sanders’ contract increases by $200,000 every year he is in Boulder. His Year 1 salary paid about $5.5 million, and the current version of the contract taps out at $6.3 million in 2027.

Deion Sanders’ Salary at Jackson State

Deion Sanders made approximately $300,000 in annual salary while working as the head football coach at Jackson State. 

Deion Sanders Contract 

Deion Sanders’ contract with Colorado is a five-year deal worth up to $29.5 million, and that’s before any bonuses or incentives.

After Year 3, the contract specifically calls for a renegotiation period, when either party can request a modification to salary, benefits, or other details.

Deion Sanders Bonuses

Deion Sanders’ contract at Colorado includes a wealth of monetary incentives for potential team achievements. He will receive a $450,000 bonus if Colorado is invited to a New Year’s 6 bowl game and $750,000 if the Buffs somehow win a national championship.

The more attainable incentives include:

• $150,000 if Colorado wins six games in a season and reaches bowl eligibility
• $100,000 for each additional win beyond the first six
• $150,000 if Colorado wins the Big 12
• $75,000 if Colorado plays in a Big 12 Championship game
• $150,000 if Deion Sanders is named National Coach of the Year
• $75,000 if Deion Sanders is named Big 12 Coach of the Year
• $50,000 each time Colorado attains a team APR of at least 965

Deion Sanders Buyout

If Colorado elects to fire Deion Sanders before the end of his contract, they must pay him a buyout equal to 75% of his remaining salary obligations.

If Sanders leaves Colorado for any reason – most likely to accept a better job elsewhere in the world of college football or the NFL – he would owe Colorado liquidated damages. Those damages are preset at $15 million if he leaves after the 2023 season. They decrease to $10 million after the second season and continue to decrease throughout the length of the contract.