How Much is Deion Sanders’ Contract Buyout at Colorado?

As we enter the 2024 season, Deion Sanders and Colorado remain central figures in college football. He has raised the Buffaloes’ national profile to a level unseen in decades. But what if the unthinkable happens, and Sanders decides to leave the Buffaloes? How much would it cost to pry him out of Colorado?

Sanders has stated he intends to remain at Colorado even after sons Shedeur and Shilo are done playing for the Buffs. Also, there is no indication the school has any intention of parting ways.

But people change their minds in the sports world.

With that in mind, here are all the pertinent numbers, just in case a breakup were to take place. Let’s examine Sanders’ contract and the amount he would owe Colorado if he were to leave for a new job, as well as what Colorado would owe if it fired him.

Base Numbers

Going straight to the source, Deion Sanders’ actual contract gives him a collective starting salary of $5.5 million, and here’s how it breaks down:

Sanders receives a $500,000 base salary each year. In addition to his base salary, Sanders earns $1.75 million per year for media appearances and another $1.75 million for promotion and fundraising as part of his supplemental salary.

Sanders also earns $1.5 million annually through three $500,000 installments for his efforts in developing the football program's academic culture, outreach and reputation, and overall welfare.

The $1.75 million figures for media and fundraising increase by $100,000 each season. Factoring in these built-in raises, Sanders' total compensation for each year of his five-year deal breaks down as follows:

2023: $5.5 million
2024: $5.7 million
2025: $5.9 million
2026: $6.1 million
2027: $6.3 million

What if Deion Sanders is fired?

Deion Sanders’ firing can happen with or without cause. The contract includes a detailed list of duties and conduct standards Sanders must meet to avoid being fired “for cause.” If Sanders were fired for cause — such as due to significant misconduct or violation of NCAA rules — he would not be entitled to any buyout.

If he is fired without cause, Sanders' contract states that he will be paid 75% of what is left on the contract. Assuming Colorado would wait until the end of the year to make such a decision, they'd owe Sanders 75% of his 2025, 2026 and 2027 salaries.

If Sanders were fired without cause following the 2024 season, Colorado would owe him 75% of the remaining value on his contract, including both base and supplemental salaries, amounting to approximately $13.7 million.

What if Deion Sanders takes another job?

Colorado’s contract with Sanders outlines provisions for Sanders’ deciding to leave on his own accord to pursue a new coaching opportunity. If Sanders retires from coaching, there’s no penalty. However, if he later returns to a coaching position within the contract term, he or his new employer would still be required to pay the buyout stipulated in the agreement.

If Sanders leaves to take another coaching job, he or his new employer would owe Colorado the following buyout amounts: $10 million if he leaves before Dec. 31, 2024, and $8 million if he leaves before Dec. 31, 2025.

So, let’s say Deion Sanders has a roaring year in Boulder and gets some major coaching offers. We know teams like to hire coaches as quickly as they can, but teams looking to hire Sanders could save $2 million by waiting until January 2025 to finalize the deal.

As the season unfolds, keep an eye on Sanders’ name in high-profile coaching discussions — because if the offers come, those buyout figures could quickly become a reality.

Related: Shedeur Sanders Lower Than Expected In ESPN’s Top 100 College Football Players

Related: Could Deion Sanders Actually Become the Dallas Cowboys' Next Head Coach?