Deion Sanders buyout: Colorado football coach’s contract details as Cowboys rumors swirl

Could Colorado football coach Deion Sanders be on the move?

Sanders, who finished off his second year in Boulder leading the Buffaloes to a 9-4 record and Alamo Bowl appearance, has shown interest in NFL jobs this offseason, according to multiple reports — and as confirmed by Coach Prime himself.

REQUIRED READING: Deion Sanders NFL rumors: Is Colorado coach going to Dallas Cowboys?

Sanders also told ESPN on Monday night that he spoke with Dallas Cowboys owner Jerry Jones about their coaching vacancy, after the Cowboys opted to not extend former coach Mike McCarthy’s contract. Sanders was also reported to have interest in the Las Vegas Raiders opening, according to the Las Vegas Review-Journal.

Sanders, of course, played for the Cowboys for five seasons, winning Super Bowl 30 in his first year with the team.

His interest in the NFL job has raised questions as to how much the Cowboys would need to pay his current employer to secure his services in the NFL. With that, here’s everything to know about Sanders’ contract details and buyout, should he leave Colorado for the NFL:

Deion Sanders buyout

Sanders’ buyout is currently set at $8 million, a figure that dropped $2 million as of Jan. 1. His buyout before that date was $10 million. Sanders’ buyout was set at $15 million when he originally took the Colorado job, but the number falls every Jan. 1 of his contract.

Here’s how much Sanders’ buyout would be for the entirety of his contract:

Figures represent buyout if contract terminated before respective dates

• Dec. 31, 2023: $15 million
• Dec. 31, 2024: $10 million
• Dec. 31, 2025: $8 million
• Dec. 31, 2026: $5 million
• Dec. 31, 2027: $2 million

Deion Sanders contract details

• Contract length: Five years
• Total contract value: $29.5 million
• 2024 salary: $5. 7 million

Sanders was paid $5.7 million in 2024, up from $5.5 million in 2023, according to USA TODAY’s salary database. Upon getting the Colorado job, Sanders signed a five-year, $29.5 million contract with the school.

Mike McCarthy contract

Another aspect in Sanders leaving Colorado would be what Jones would offer him to take over the Cowboys, especially in relation to McCarthy.

The former Cowboys coach signed a five-year deal with Dallas in 2020, which the franchise will not renew as of the team’s completion of the 2024 NFL season. According to ESPN, citing numerous league sources, McCarthy made $8 million per season on his contract.