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Deion Sanders Lands Enormous Pay Raise From Colorado As Part Of Contract Extension

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Deion Sanders is now one of the highest-paid college football coaches in the country after agreeing to a five-year, $54 million contract extension with the Colorado Buffaloes. The new deal pays Sanders an averaged of $10.8 million per year according to Boulder Daily Camera reported Brian Howell. That placed him firmly among the top-10 highest-paid coaches in the country according to USA Today.

Sanders’ new deal, which escalates in value from $10 million in year one to $12 million in year five, is worth nearly double the five-year, $29.5 million deal he signed to become Colorado’s head coach prior to the 2023 season. After a 4-8 record in year one, he led the Buffs to a 9-4 mark in 2024 and came just one game shy of making the Big 12 championship game.

The new deal also marks a stark change of tune from Colorado and athletic director Rick George, who admitted that the school did not actually have the funding to pay Sanders when they first hired him.

“We don’t have the money yet, but I know we’ll have it, so I’m not worried about that piece,” George said at the time.

Obviously, not only to the Buffs have the money now, but they have far more as well. And they may well have Sanders to credit for that. Following the completion of the 2023 season, economic studies showed that the Colorado football program brought an estimated $113 million in added revenue to the Boulder, Colorado economy. Similarly, the Colorado athletic department reported a record revenue and football ticket sales in fiscal year 2024, per Brent Schrotenboer of USA Today.

Colorado reported a record $146.6 million in revenue and $31.2 million in football ticket sales, roughly double the previous school record. Like him or not, it’s hard to argue Sanders did not earn his hefty pay raise.