Deion Sanders’ contract extension: Diving deep into the details of Coach Prime’s lucrative deal with Colorado

Deion Sanders just got paid. The football legend has signed a five-year, $54 million contract extension with the Colorado Buffaloes that'll make him one of the bes-paid head coaches in all of college football.

According to Sportrac, Sanders will earn $10.8 million per year on his new deal. Furthermore, according to Brian Howell, Sanders has an array of performance incentives in his new deal with the Buffaloes. These incentives include but aren't limited to:

1. $150,000 if the team wins nine games in the regular season.
2. $100,000 for every additional win after reaching nine wins in the regular season.
3. $150,000 if the team plays in the Big 12 Championship game.
4. $150,000 if the team is invited to a non-college football playoff bowl game.
5. $400,000 for a conference championship win with extra conditions.
6. $100,000 if the team appears in the CFB playoff semifinals.
7. $200,000 if the team appears in the CFP National championship game.
8. $250,000 if the team wins the national championship.
9. $75,000 of Deion Sanders wins the Big 12 Coach of the Year Award.
10. $150,000 if Deion Sanders wins the National Coach of the Year Award.

What does Deion Sanders' new contract mean for Colorado?

Deion Sanders' new contract is an indicator of the Buffaloes' faith in him to take the team to new heights. It's even more apparent considering the departure of Shedeur Sanders, Travis Hunter, and numerous key players heading to the 2025 NFL draft.

Coach Prime has turned the program from an afterthought in college football into a legitimate contender in the Big 12. He's proven himself to be one of the top coaches in the game, considering the program's limitations compared to traditional collegiate football powerhouses.

Coach Prime took the Buffaloes from being a 1-11 team in 2022 to getting a 4-8 record in 2022, and most recently playing in a bowl game on the back of just three losses in the regular season. With this new contract, they've indicated their complete faith in Coach Prime's ability to keep improving the program for the foreseeable future.

The Buffaloes were a Top 25 team in the 2024 season, and they'll aim for even better results in the new season.