Deion Sanders failed to open the door to a press conference Saturday night after the Jackson State football team defeated Southern 43-24 to win its second straight SWAC title at Veterans Memorial Stadium.
Sanders met with his JSU football team to tell them he’s taking another job to become the University of Colorado’s head football coach. This contract is broader than the one he signed with Jackson State University. All but $300,000, Sanders owes for his buyout to JSU. On Monday, Sanders signed a five-year, $29.5 million deal before bonuses and incentives.
Under the deal, Sanders will earn $5.5 million in his first season, with a base salary of $500,000 plus $1.75 million for radio, television and public appearances. An additional $1.75 million for promotion and fundraising. In addition, he spent $1.5 million on “student-athlete development.”
That compensation will increase to $5.7 million in 2024, $5.9 million in 2025, $6.1 million in 2026 and $6.3 million in 2027. According to the Denver Post, this is the biggest financial package he’s been given to a CU football coach, athletic director Rick George confirmed Sunday, who said CU still has money to pay Sanders. acknowledged that there is no
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Under the proposed deal, Sanders would have a $5 million salary pool for his assistants and support staff. If he leaves the school after the first year of his contract, he will be obliged to pay his CU15 million as liquidated damages. For the second year onwards, these losses are reduced to his $10 million. $8 million from the third time onwards. $5 million after the fourth or final year.
If CU chooses to buy Sanders’ contract prematurely, it will be obligated to pay Sanders 75% of the remaining base and additional salaries for the duration of the contract.
Other potential incentives for Sanders include:
$750,000 if CU wins the national championship.
$450,000 if CU is invited to the “New Year 6” bowl game.
$150,000 if CU wins 6 games in the season.
$150,000 if CU beats Pac-12.
$150,000 if CU is invited to a bowl game other than “New Year’s 6”.
$150,000 if Sanders is named National Coach of the Year.
$100,000 for each additional win after 6 games.
$75,000 for CU to play in the Pac-12 Championship Game.
$75,000 if Sanders is named Pac-12 Coach of the Year.
$50,000 each time a CU achieves a Team APR of at least 965. In Year 1, the bonus is achieved when a CU achieves a Team APR of at least 954.
In addition, Sanders will receive $20,000 for moving expenses.
Jackson State will face North Carolina Central in the Cricket Celebration Bowl at noon on December 17th.