University of Colorado Board of Regents Approves Deion Sanders’ $29.5 Million 5-Year Contract

Deion “Coach Prime” Sanders is officially a head coach at the University of Colorado Boulder.

According to BuffZone, the NFL Hall of Famer’s contract has been approved by the University of Colorado Board of Regents. Sanders was offered a five-year, $29.5 million contract to take on the role of CU’s 28th full-time head football coach.

With a vote of 8-1, the contract was approved, with board member Jack Kroll being the only one to vote against the decision.

After leading Jackson State University to a second straight SWAC (Southwestern Athletic Conference) championship, Sanders was hired to bring the University of Colorado Boulder to prominence. The former reality TV star was introduced as the Buffaloes’ latest head coach earlier this month on Dec. 4. Earlier this week, Coach Prime ended his first national signing day by gaining 24 recruits.

After breaking and setting many records throughout his football playing and coaching career, Sanders achieved another when he became the highest-paid coach in CU history. The successful coach will make $5.5 million in base and supplemental salary in his first year. He is scheduled to receive annual raises of $200,000, earning him $6.3 million when his contract ends in five years.

Colorado Public Radio News reported that District 1’s regent, Kroll, who is leaving the board, explained voting against Sanders’ contract. He stated it wasn’t personal; he is against the “sustainability of the financial model.”

“While I commend the choice of our third Black head coach in a row and fourth overall, the system still thrives on the back of unpaid labor, and I believe it’s only a matter of time before athletes gain recognition as employees, which will further challenge the sustainability of the financial model,” Kroll said when giving his dissension.

After a stellar college and professional career, Sanders is a member of both the Pro Football Hall of Fame and the College Football Hall of Fame. He won two Super Bowls while playing 14 seasons in the National Football League. Sanders also played professional baseball from 1989- 2001 in Major League Baseball.