Deion Sanders's first contract as Colorado's head coach will be the richest in school history -- by far.
According to Brian Howell of the Boulder Daily Camera, Sanders signed a 5-year deal at just shy of $30 million. His $5.9 million average salary is more than 60 percent above the $3.6 million the school paid Karl Dorrell in 2022. His $5.5 million 2023 would be in the top half among Pac-12 head coaches, based on 2022 figures, while Dorrell was fourth from the bottom.
Sanders has also been given a CU-record $5 million salary pool.
Should Deion choose to leave, CU would be owed $15 million through the 2023 season, $10 million in 2024, $8 million in 2025, and $5 million thereafter.
Should CU fire Sanders without cause, the school would owe him 75 percent of the remainder of the contract.
The bonus structure ranges from $750,000 for a national championship to $50,000 for an APR above 954 for the 2023 season, and 965 thereafter.
Sanders would owe CU $15M if he leaves in the first year, $10M if he leaves in the 2nd year, $8M in the third year and $5M if he leaves after that. If Colorado fires Sanders at any point without cause, the school would owe him 75% of his remaining contract. #cubuffs
— Brian Howell (@BrianHowell33) December 4, 2022
Should be noted, Deion Sanders' contract still has to be approved by CU regents. That could happen this week, but that's basically a formality. Would be shocking if the regents (many of which were there today to celebrate the hire) voted against the deal. #cubuffs
— Brian Howell (@BrianHowell33) December 4, 2022
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