Deion Sanders Ron Chenoy-USA TODAY Sports

New Colorado Buffaloes head football coach Deion Sanders will earn $29.5 million over the five years of his first contract, which is a number that doesn’t include bonuses and incentives.

The Denver Post revealed the major contract that makes Sanders the highest-paid coach in Buffaloes athletic history.

Colorado did not disclose the terms of the deal before introducing Sanders as the next coach of the football program on Dec. 4th. We now know that the terms to that deal were still being finalized until Dec. 5th.

Sanders’ contract stipulates a $5.5 million salary in his first season, which includes a $500,000 salary base plus $1.75 million for various media commitments. There’s also $1.75 million for “promotion and fundraising” as well as $1.5 million for “development of the student-athlete.”

Sanders will earn $5.7 million in 2024 and $5.9 million in 2025. He will earn $6.1 million in 2026 and $6.3 million in 2027. Colorado awarded Sanders $5 million to assemble his assistant coaching and support staff.

Sanders owes Colorado $15 million in “liquidate damages” if he leaves after one year in Boulder. He owes $10 million if he leaves after two years, $8 million if he leaves after three, and $5 million if he leaves after Year 4 or Year 5.

We’ll get our first real look at Sanders’ new team on Sept. 2nd, 2023, when the Buffaloes travel to Texas to face the TCU Horned Frogs in the first game of their season.

[Denver Post]