Deion Sanders Colorado Contract: Salary, Bonuses, Buyout

Colorado went 4-8 in Deion Sanders’ first year as an FBS coach. 

After a 3-0 start with wins over TCU, Nebraska, and Colorado State, the Buffs went 1-8 in Pac-12 conference play. They finished dead last. 

But better days are probably ahead for Sanders, as Colorado will play its conference games in the Big 12 in 2024. And with Oklahoma and Texas departed for the SEC, the Big 12 should provide far less top-end competition for Colorado to deal with than the 2023 Pac-12.

Even if Colorado doesn’t get any better in Sanders’ second year coaching FBS football, the record should look much improved next season. 

Before we get to next season’s college football betting odds, though, there are thousands of curious college football fans who want a refresher on the finer details of the Deion Sanders Colorado contract. 

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 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 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.