Colorado extends Sanders on 5-year deal reportedly worth $54M

The Colorado Buffaloes have given head coach Deion Sanders a contract extension through the 2029 season, the team announced Friday.

Sanders' new contract will be worth $54 million over five years, Buffzone's Brian Howell reported, with a yearly base salary of $10 million. The agreement makes him the highest-paid coach in the Big 12 and the fourth-highest in the country, behind Georgia's Kirby Smart, Ohio State's Ryan Day, and Clemson's Dabo Swinney.

"Coach Prime has revolutionized college football and in doing so, has restored CU football to our rightful place as a national power," Colorado's athletic director Rick George said in a statement. "This extension not only recognizes Coach's incredible accomplishments transforming our program on and off the field, it keeps him in Boulder to compete for conference and national championships in the years to come."

Sanders had spoken to Dallas Cowboys owner Jerry Jones about the club's head-coaching gig after the team didn't rehire Mike McCarthy. Sanders later acknowledged he "couldn't coach pro ball" because of a lack of passion and enthusiasm from the players. The Cowboys ultimately promoted Brian Schottenheimer to head coach.

Sanders had originally signed a five-year, $29.5-million contract with Colorado in December 2022 after spending three seasons at Jackson State. In the two seasons Sanders has coached the Buffaloes, the team has gone 13-12 and made the Alamo Bowl in 2024.