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Report: Colorado, Deion Sanders in talks over possible contact extension

Grant Grubbs Profile Pictureby:Grant Grubbs•12/06/24•

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Deion Sanders contract extension colorado
© Ron Chenoy | Imagn Images

Deion Sanders silenced the doubters this year, leading Colorado to a 9-3 record in the regular season. On Monday, Buffzone’s Brian Howell reported Sanders and Colorado athletic director Rick George have discussed a contract extension.

“Met with Colorado AD Rick George, who told me he and head football coach Deion Sanders have discussed a contract extension and will continue to have discussions after the season is over,” Howell said. “After this year, Sanders has three years remaining on his original 5-year deal.”

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Sanders and Colorado initially agreed to a five-year, $29.5 million deal when he took over the program in December 2022. Per the current contract, Sanders’ 2024 salary is $5.7 million and increases by $200,000 for each year remaining on the deal.

Of course, those figures don’t include possible incentives Sanders can earn. Here is a list of the incentives currently on Sanders’ contract:

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  • $750,000 if Colorado wins the College Football National Championship
  • $450,000 if Colorado plays in a New Year’s Six bowl game
  • $150,000 if Colorado is bowl-eligible (non-NY6)
  • $150,000 if Colorado wins six games in a single season
  • $150,000 if Colorado wins the Big 12 Championship
  • $150,000 if Sanders is the National Coach of the Year
  • $100,000 for each win following the sixth win of a season
  • $75,000 if Colorado plays in the Big 12 Championship Game
  • $75,000 if Sanders is the Big 12 Coach of the Year

Sanders already achieved several of these incentives this season and has a chance to accomplish another, depending on which bowl game Colorado is chosen for.

Despite Sanders’ immense success this season, there have been rumors that he will move on from the program when his son Shedeur and Heisman front-runner Travis Hunter move on to the NFL. Nonetheless, Deion Sanders denied these rumors in June.

“I’m a leader of men, not a follower of men. I’m a father, not a baby daddy. I lead my sons. I don’t follow my sons,” Sanders said. “My sons, Travis [Hunter] included, are getting ready to migrate to the NFL. I’m not following them to the NFL.

“I paved the way for my babies. They’re not paving the way for me. So, I plan on being here and being dominant here, because they’re establishing something that we’re going to continue to build on for years to come. And I’m thankful that they’re establishing what they’re establishing.”