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Coach Prime just got PAID. Deion Sanders has inked a massive five-year, $54 million extension with Colorado that keeps him in Boulder through 2029 — making him one of college football’s highest-paid coaches. The deal became official Friday, ending months of speculation about his future with the program, according to the Boulder Daily Camera’s David Howell.
The contract structure escalates over time. Sanders will earn $10 million in both 2025 and 2026, then $11 million in 2027 and 2028, before jumping to $12 million in the final year. That’s a significant upgrade from his original deal.
When NFL coaching vacancies opened earlier this year, Sanders’ name kept popping up in conversations. The 57-year-old still had $18.3 million remaining on his initial five-year, $29.5 million contract from 2022, but that didn’t stop teams from calling.
Jerry Jones and the Dallas Cowboys reportedly had serious discussions with Sanders about their head coaching position. Those talks ultimately fizzled out — but they might have given Coach Prime some extra leverage at the negotiating table with Colorado.
NFL Door Remains Cracked Open Despite New Deal
Don’t think this extension means Sanders is permanently off the NFL radar. The buyout terms in his new contract tell a different story.
If an NFL team wants to hire Sanders, they’d owe Colorado: $12 million before Dec. 31, 2025; $10 million before Dec. 31, 2026; $6 million before Dec. 31, 2027; $4 million before Dec. 31, 2028; and just $3 million before Dec. 31, 2029.
Those numbers won’t scare away determined NFL owners.
For context, when the Carolina Panthers fired Matt Rhule in 2022, they still owed him around $40 million. Sanders’ buyout structure — which drops significantly after just a couple years — looks like pocket change compared to what some NFL teams have paid to move on from coaches.
The extension does give Colorado fans something to celebrate. After bringing unprecedented attention to the program in his first two seasons, Sanders has committed to building something sustainable in Boulder. His son Shedeur and two-way star Travis Hunter are expected to be first-round NFL draft picks after the 2024 season, but Coach Prime is now positioned to reload rather than rebuild.
While Colorado has secured its charismatic (and occasionally polarizing) head coach for the foreseeable future, don’t be shocked if the NFL rumors resurface next hiring cycle. The buyout terms practically invite it — and Sanders’ star power remains as strong as ever.
