Why Is Deion Sanders’ $54M Extension a Boost for the NIL and Jimmy Horn Jr.’s Career?

Deion Sanders isn’t going anywhere. After flirting with the Dallas Cowboys this offseason, “Coach Prime” maintained an affinity for his Colorado Buffaloes. He wanted a long-term commitment from them. He needed them to show their love. They did just that on Friday, inking him to a five-year, $54 million contract extension.

Analysts with a keen eye on the Colorado program were begging the Buffs to make Sanders the highest-paid head coach in the Big 12 Conference. Sanders ($10.2 million) not only eclipsed Mike Gundy’s $7.75 million salary to take that mantle. He blew it out of the water. And a former colleague from his NFL analyst days couldn’t be happier for him.

On Friday’s episode of his namesake show, Rich Eisen expressed joy for Sanders’ impressive deal. He then blasted Sanders’ critics for saying he wouldn’t succeed as a football coach. In his opinion, the NFL Hall of Famer embodies exactly what you want in this era of college football.

“Everybody thought, when he first started, [he] was just a lark… that [coaching] wasn’t going to be something that he was going to keep up with… then he takes Colorado… he is not only good at his job, he is the perfect type of coach for the moment.” – Rich Eisen

Eisen then applauded Sanders for embracing a father figure role for all of his players. He specifically mentioned Jimmy Horn Jr., whose father is in prison. Eisen told his audience that Sanders regularly takes Horn Jr. to visit his father, and that he walked him out on Senior Day because his father couldn’t do so. With this contract, he’ll be a “surrogate father” as Eisen put it, in Boulder for years to come.

What is Deion Sanders’ contract breakdown?

During Super Bowl week, Deion Sanders informed Rich Eisen that he has Jerry Jones labeled as “direct deposit” in his phone. On Friday, Eisen joked that Sanders would have to update his contact list. He’s not wrong. Sanders’ new contract will pay him at least $10 million each season. Per Buffaloes beat reporter Brian Howell, Sanders’ salary will increase by $1 million in 2027 and 2029.

Sanders’ critics think he’s now among the most overpaid coaches in college football. But Colorado’s fans don’t mind. They’re happy to be relevant again. Before Sanders arrived (2022), the Buffs went 1-11. He won four more games in his first season (5-7) and added another four victories to his total (9-4) in 2024. They’re excited to see Sanders continue building the program.

Sanders is facing his toughest challenge yet in 2025, as he’s without his sons – Shedeur and Shilo – and Travis Hunter for the first time in his college coaching career. We’ll see if he’s up for the task when Colorado hosts Georgia Tech on Aug. 29.