Deion Sanders, the Hall of Famer and renowned college football personality has been making waves ever since stepping into his role as head coach for the Colorado Buffaloes. He has arguably made Boulder the epicenter of college sports, and it just took a couple of games to do that.
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And with that, Sander’s $29,500,000 contract with Colorado now appears to be a steal deal. Per Sports Illustrated’s report ranking all the Pac-12 coaches on their average annual values, Coach Prime still ranks fourth in the list.
Deion Sanders Becomes One of the Most Recent Additions to Pac-12’s Hot Grabs
Sander’s rise to fame is thanks to Colorado’s significant development from a disappointing 1-11 last season and his role in that improvement. To secure Sanders, the Buffaloes offered him an impressive five-year contract valued at $29.5 million.
The agreement entails an average annual compensation of $5.9 million, with Sanders earning $5.5 million in the first year and receiving a subsequent raise of $200,000 each year thereafter. Notably, this represents a substantial increase compared to Karl Dorrell, the previous head coach, who earned $3.6 million annually.
Prior to joining Colorado, Sanders was coaching at Jackson State on a modest four-year contract worth $1.2 million. However, as extravagant as his contract is, so are his exit clauses. Sanders’ new deal stipulates that he would owe Colorado $15 million if he were to depart after just one season. The value, though, will reduce with every passing season, i.e. $10 million after the second season, $8 million after the third season, and $5 million if he leaves during either of the last two years of the agreement.
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
Now, a recent USA TODAY article this Tuesday revealed the salaries of college football coaches. And as Sports Illustrated compared them all, it showcased Coach Deion ‘Prime-Time’ Sanders as the fourth-highest-paid coach in 2023. Now coaching Colorado with a 3-2 record, Sanders commands a substantial $5,500,000 annual salary. He trails behind other top-tier Pac-12 coaches, such as Oregon’s Dan Lanning, Utah’s Kyle Whittingham, and UCLA’s Chip Kelly, in the rankings of college football coaching salaries.
UCLA football coach Chip Kelly, who ranks third on the list, has a recent contract extension till 2027, with earnings of $6.1 million in 2023 and 2024, rising to $6.2 million annually from 2025 to 2027. This extension follows after a previous four-year deal in January 2022, which had prompted UCLA’s first winning season of 8-4 under Kelly. There’s a tough financial competitiveness within the Pac-12, despite Sanders’ relatively recent entry into the college coaching scene.
Lanning and Whittingham Lead the Pac-12 League with Their Contracts
Kyle Whittingham shows the rarest commitment as someone who has held various coaching positions at Utah since 1994. He became Utah’s head coach in 2005 and signed a contract extension in 2022 with improved compensation. In 2023, he’s guaranteed a base salary of $4.7 million, a $200,000 increase from the previous year. His contract includes annual $100,000 increases. The agreement is valid until 2027 unless further extensions occur.
However, Whittingham’s income extends beyond his coaching salary. The university’s media and outfit partnerships with companies like LEARFIELD and Under Armour provide an additional $1.5 million. This comprehensive package reflects why Whittingham stands as the second-highest-paid coach in Pac-12.
And at the top is Oregon’s Dan Lanning, who gave Coach Prime his first loss this season. As the highest-paid Pac-12 head coach, Dan Lanning has a base salary of $45 million over six years. His contract has lucrative incentives that could extend it by up to three years if the team wins 10 games in any season. Lanning, 37, led Oregon to a 10-3 record and a Holiday Bowl victory in his first season. If he leaves before completing the contract, there’s a $20 million buyout clause.
As Colorado and Coach Prime continue to prove their mettle this season, there have been calls for getting Prime even more money. Skips Bayless believes Sanders should be offered a $100 million “today.” Former CU WR Jeremy Bloom believes Coach Sanders should be paid a whopping $166 million. It’s no secret that Colorado has gotten a steal deal with Sanders, and if these calls are heard, he could soon be making his way to the very top as the highest-paid coach in college football history.
