Deion Sanders’ Colorado football program sought Saudi money to fund NIL, report says

Deion Sanders’ Colorado football program solicited funding from Saudi Arabia’s Public Investment Fund for its Name, Image and Likeness collective, according to a report Thursday by Sports Illustrated.

Former Buffaloes special teams coordinator Trevor Reilly said he spent time in the Middle East over the winter meeting with Saudi officials on behalf of the Buffaloes 5430 NIL collective, which he ran in addition to his coaching duties. The Saudi PIF, an extension of the country’s government that is reportedly worth trillions of dollars, owns English professional soccer clubs such as Chelsea and Newcastle United, has a major stake in Formula One racing and the ATP tennis tour and is the chief financial backer of the LIV Golf tour.

Sports Illustrated obtained a copy of Reilly’s letter of resignation, which he tendered to Sanders and Colorado athletics director Rick George earlier this week. In the letter, the former Utah All-American and NFL linebacker expressed frustration that his leads were not followed more extensively.

“The arrangement was that, because I did all the NIL work at Jackson and got us through, you guys would pay me a modest salary and make me the Special Teams Coordinator, which should have freed up time for me to handle NIL activities,” Reilly wrote. “You paid me $90,000 a year and let me handle special teams. I did all this work in your name and was told to pursue it.

“I burned through all my contacts in my Mormon community, which is worth about $3 trillion. Now, I can’t get these people to answer my calls because I just found out today that none of my endeavors will happen.

“I even went to Saudi Arabia and got a meeting with the Saudis, who were interested in pursuing business. I have email receipts to prove it, and you guys let it fall flat on its face.”

There is nothing technically illegal or against NCAA rules about Colorado soliciting NIL funding from the Saudi PIF or any other foreign entity. However, Saudi Arabia’s endeavors into professional sports have been met with pushback from many in the public due to the country’s poor human rights record.

Colorado athletics had no comment regarding Reilly’s Middle East trip, according to the Sports Illustrated report.