From $500k to $10 Million: How Coach Prime’s new contract reflects his success

Colorado head coach Deion Sanders has orchestrated a major program turnaround in Boulder, earning a raise that made him one of the 10 highest-paid coaches in the country. (Photo by Madison Kerest/Sko Buffs Sports)

Two years have passed since Deion “Coach Prime” Sanders took the Colorado Buffaloes football team under his wing and the sports world by storm. 

The Buffaloes’ 2022 regular season ended with a 1-11 record, one of the worst in CU’s history.

In Sanders’s first year, Colorado won three of its first four games and finished 2023 with a 4-8 record, surprising football fans nationwide and successfully putting itself on the national radar. 

In 2024, the team posted a 9-4 record and attracted 54 million television viewers, making the Buffaloes one of the most-watched teams in sports.

The success of Prime has led to a major contract overhaul. In 2022, Sanders’s original contract included a five-year agreement, allowing either party to request modifications after year three. After year two, Colorado signed Sanders to an extension through 2029 that includes a major salary increase. 

Prime began with a base salary of $500,000, a $200,000 increase from his previous position at Jackson State. With the contract extension, his base salary is now $10 million. 

Supplemental earnings such as radio, television and public appearances or promotion and fundraising, totaled $1.75 million per contract year in 2022, with a $100,000 increase each successive year.

Additionally, there is $150,000 allocated for the development of student-athletes on top of base salary, which is well deserved, as the Buffs averaged a 3.0 GPA for the first time in program history last fall. 

With each competitive success comes a financial sum. The payout for an invitation to the New Year's Day Six bowl game has increased from $200,000 to $450,000.

In addition to transforming the Buffs on the field, Prime has also impacted the university. The team sold out back-to-back seasons in both 2023 and 2024. General applications to attend CU have increased by 20%, and applications from African American students have increased by 50%.  

Overall, Colorado is ensuring the world knows Coach Prime is here to stay, as Sanders is recognized as a top coach in publications such as Sports Illustrated. With a buyout of $12 million if Sanders leaves before 2025 and $6 million before 2027, Prime appears locked in. Fans can now begin to look ahead to the 2025 season, anticipating even greater success.