Deion Sanders reveals he turned down Cowboys job over Jerry Jones' $240,000,000 investment

Former NFL star and current Colorado Buffaloes coach Deion Sanders has disclosed why he declined the Dallas Cowboys coaching position. The deciding factor centered on the team's record-breaking financial commitment to quarterback Dak Prescott.

The coaching vacancy emerged after the Cowboys fired Mike McCarthy. It led to early discussions between Sanders and Cowboys owner Jerry Jones.

At the NFL Honors ceremony on Friday, Sanders addressed the speculation during a conversation with Kayla Nicole of the "I AM ATHLETE" podcast.

"I'm not going to coach without my son," Sanders said. "And they have a huge investment in their quarterback. They knew that. I'm not stepping up to that level without my baby."

The massive investment Sanders referenced is Prescott's four-year $240 million contract extension signed in September. This deal made Prescott the highest-paid player in NFL history.

Deion Sanders puts family first

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Speaking on "The Rich Eisen Show," Sanders offered additional insight into his decision-making process. He maintains a close relationship with Jones, even storing the Dallas Cowboys owner's number in his phone as "Direct Deposit."

"It was great. It made me think," Sanders said on Friday. "When you hang up and you start thinking, 'Hey. Wow, that's something.' You just weigh everything."

The logistics presented clear obstacles. The Cowboys hold the No. 12 draft pick, making it virtually impossible to select Sanders' son, Shedeur, who analysts project as a top-three pick in the 2025 NFL Draft.

Jones, speaking at the NFL Honors ceremony, expressed his continued admiration for Sanders.

"Deion has almost a magical effect on young athletes," Jones said. "It's not only because he was such a great athlete; it's how he approaches his gift."

The Cowboys' commitment to immediate success factored into their planning.

"I wouldn't have signed Dak Prescott, the highest-paid player in the NFL, if now wasn't when we wanted to win," Jones said on Saturday, via The Athletic's Dianna Russini.

Sanders values his autonomy at Colorado, where he recently coached both his sons, Shedeur and Shilo.

"When you're happy and you got that 'it,' you call your own shots and you don't have to do what you don't want to do," Deion said, via 'The Rich Eisen Show.'

The Cowboys moved forward by hiring Brian Schottenheimer, their offensive coordinator for the past two seasons. Jones emphasized it wasn't a rebuilding move.

"We're not building for the future here. This is a hit the ground running hire," Jones said during Friday's presser, via Yahoo! Sports

For Sanders, the decision aligned with his principles. "That's somewhat what we're missing now: heart," referring to the NFL's business-first approach.