Inside Deion Sanders’ $29.5M offer sheet from CU Buffs


BOULDER — If approved, Deion Sanders’ five-year contract with the CU Buffs will feature some Prime incentives. And some Prime financial penalties if he seeks to terminate the proposed deal prematurely.

CU presented the former Jackson State football coach with an offer sheet that proposes a five-year contract worth $29.5 million before bonuses and incentives.

Sanders, 55, would be slated to earn $5.5 million in his first season, with a base pay of $500,000 supplemented by $1.75 million for radio, television and public appearances; another $1.75 million for promotion and fundraising; and another $1.5 million for “development of the student-athlete.”

That compensation would increase to $5.7 million in ’24, $5.9 million in ’25, $6.1 million in ’26 and $6.3 million in ‘27.

It’s the largest financial package ever given to a CU football coach, and athletic director Rick George admitted this past Sunday following Sanders’ introductory news conference that “we don’t have the money yet. But I know we’ll have it, so I’m not worried about that piece.”

Under the proposed agreement, Sanders would have a $5 million salary pool for his assistants and any support staff.

The penalties invoked should Sanders — a Florida native who currently lives in Texas — choose to end his tenure in Boulder before the end of the contract are fairly stiff. Sanders would owe CU $15 million in liquidated damages if he leaves the school after the first year of his deal.

Those damages drop to $10 million if it’s after his second year; $8 million after the third; and $5 million if after his fourth or final years.

If CU chooses to buy out Sanders’ contract prematurely, it would owe him 75% of the remaining base and supplemental salary left on the duration of the agreement.

Sanders’ other potential incentives would include:


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