Deion Sanders' Colorado Contract, Buyout Details Revealed After Jackson State Exit

The former Jackson State bench boss will make a lot of money as the head coach of the Colorado Buffaloes.

According to Brian Howell of the Boulder Daily Camera, there is a five-year deal with Colorado.

There are full details.

Brian Howell @BrianHowell33

Sanders would owe CU $15M if he leaves in the first year, $10M if he leaves in the 2nd year, $8M in the third year and $5M if he leaves after that. If Colorado fires Sanders at any point without cause, the school would owe him 75% of his remaining contract. #cubuffs

Brian Howell @BrianHowell33

Should be noted, Deion Sanders' contract still has to be approved by CU regents. That could happen this week, but that's basically a formality. Would be shocking if the regents (many of which were there today to celebrate the hire) voted against the deal. #cubuffs

During his time as Jackson State's head coach, he amassed a 27-5 record and led the team into the national spotlight.

Jackson State had its first perfect season in program history in 2002. The winner of the SWAC title will play the winner of the NC Central Eagles in the Celebration Bowl.

During his introductory press conference in Colorado, the new Buffaloes coach expressed his desire to rebuild a team that finished last in the conference with a 1-11 record.

I can grasp it, I can feel it, and I can taste it after I get here. I understand what you're trying to achieve. You want a chance to win. To win the game. To be one of the best. I'm going to tell you that.

We're here to win. To show out, not to show up. To be the best. We're not going to play. We don't want to kick it. I have to believe that we are going to come.

The Buffaloes fired head coach Karl Dorrell after they lost their first five games and replaced him with an interim head coach. The coach at Colorado had been there for a long time.

Colorado has not had a winning season since 2016 and will be looking to change that when the team hits the field in three years. The Buffaloes are expected to get commitments from some of the best recruits in the country.

The five-star wide receiver committed to Colorado on Sunday. His son, Shedeur, will transfer from Jackson State to Colorado in the fall of 2020.

Grace Remington @GraceRemiTV

Deion Sanders introduces his son Shedeur in his opening statement:“That’s your quarterback.”

“He’s gonna have to earn it though. The safety (Shilo) made me mad so I didn’t bring him.” #GoBuffs pic.twitter.com/aBhpNQXuDy

In addition to completing 70.2 percent of his passes for 3,383 yards and 36 touchdown against six pick ups, Shedeur Sanders also ran for 174 yards and 5 scores.

He is a member of the Pro Football Hall of Fame. He was the 1994 defensive player of the year. He was a Pro Bowler eight times.