What Deion Sanders Said About Potential Contract Extension With Colorado Buffaloes

While speaking to the media on Monday, Colorado Buffaloes coach Deion Sanders was asked about an update on a contract extension with the school. Sanders answered the question quickly and candidly, though he did not ease the uncertainty.

Nov 23, 2024; Kansas City, Missouri, USA; Colorado head coach Deion Sanders watches his players warmup prior to the game between the Kansas Jayhawks and the Colorado Buffaloes at GEHA Field at Arrowhead Stadium. Mandatory Credit: Nick Tre. Smith-Imagn Images | Nick Tre. Smith-Imagn Images

In 2022, the Colorado Buffaloes hired Deion Sanders to be their next coach, and he signed a five-year deal worth $29.5 million. As Sanders is in the third year of his contract, the discussions regarding a contract extension are growing.

While speaking to the media, Sanders was asked about a potential contract extension with Colorado. Sanders gave a candid answer on what he is thinking about where things stand regarding a contract extension.

“Maybe, I don’t know. I ain’t worried about me,” Sanders said. “Let’s get everybody else straight first, then I’m good.”

Nov 23, 2024; Kansas City, Missouri, USA; Colorado head coach Deion Sanders watches his players warmup prior to the game between the Kansas Jayhawks and the Colorado Buffaloes at GEHA Field at Arrowhead Stadium. Mandatory Credit: Nick Tre. Smith-Imagn Images | Nick Tre. Smith-Imagn Images

It is safe to say Sanders is not concerned about discussing a future extension with the program publicly. His concern is for the team first. Before Sanders joined the Buffaloes, Colorado was a one-win team. Sanders came in and completely rebuilt the program. In his first season with the Buffaloes, the team ended with a 4-8 record, followed by a 9-4 record in 2024. 

In addition to Colorado winning at a much higher rate, Sanders has brought in a lot of money for the football program. Throughout his first season with the program, Sanders brought in $343 million to Colorado through earned media value alone, per Cision. Selling out home games to a star-studded crowd and giving fans a reason to attend games has brought in strong revenue to the program.

Between the money and the culture change, there should be no doubt that a contract extension is imminent. Per Fox Sports's Joel Klatt, while appearing on “The Herd,” the Colorado Buffaloes have put an offer on the table.

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“I know that there’s been extension conversations,” Klatt said. “I know Colorado has come significantly up. I would like them to come up in several areas, not just his salary, but possibly assistant pool, facility stuff, commitment to NIL, outside of revenue sharing.”

During the offseason, there were reports that Sanders was speaking to Dallas Cowboys owner Jerry Jones about the Cowboys’ vacant coaching position. Perhaps there was real interest from Sanders, but it could have also been leverage to get Colorado to offer more money to keep him.

“When you’re in a position like that, he’s doing and his management team is doing what he should, which is try to generate as much leverage as possible,” Klatt said.

Colorado is losing some key players to the 2025 NFL Draft including quarterback Shedeur Sanders, wide receiver and cornerback Travis Hunter, and wide receiver Jimmy Horn Jr. Deion Sanders will be entering his first year coaching Colorado without his son at quarterback, which could be a true test for him as a college coach. 

Dec 28, 2024; San Antonio, TX, USA; Colorado Buffaloes head coach Deion Sanders reacts from the sideline during the third quarter against the Brigham Young Cougars at Alamodome. Mandatory Credit: Troy Taormina-Imagn Images | Troy Taormina-Imagn Images

The Buffaloes will have a quarterback competition between incoming recruit Julian Lewis, transfer quarterback Kaidon Salter, and returning sophomore, Ryan Staub. Spring practices have begun, and Sanders is making sure everyone is coming in prepared. 

“We are gonna have a great spring, we’re gonna have an awesome spring,” Sanders said ahead of spring practices. “We have a better team than we had last year. We’re gonna prove it this spring.”

While publicly Sanders is not worried about a contract extension, the Colorado coach holds the leverage. Sanders put together a coaching staff that is full of former NFL talent, making it an enticing place for recruits to want to play. 

If he can earn another winning season, and potentially make a push for the College Football Playoffs, Sanders will get the contract extension he deserves with the Buffaloes.