Colorado AD Admits School Currently Doesn’t Have The Money To Pay Deion Sanders’ Salary

Colorado athletic director Rick George landed a huge get in Deion Sanders, but now he has to figure out to get the money to pay his new coach.

Over the weekend, it was announced that Sanders was going to leave Jackson State to become the next head coach at Colorado.

According to college football reporter Brian Howell, Sanders signed a 5-year contract for $29.5 million which comes out to an average of $5.9M per year.

Deion Sanders’ deal with Colorado is 5 years, $29.5 million – an average of $5.9M/year. He’ll make $5.5M in the first year, with raises of $200K every year. Up to now, the $3.6M paid to Karl Dorrell this year was the most CU has paid to a head coach. #cubuffs

— Brian Howell (@BrianHowell33) December 4, 2022

Sanders’ contract also includes some steep penalties if he decides to leave early and take another job.

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

On Sunday, George admitted that the school currently doesn’t have the money to pay Sanders’ salary but was sure that theY “will have it” soon.

It’s unclear how George will get the money to pay Sanders but fans had interesting reactions to his comments.