Deion Sanders net worth: How much will NFL legend earn as HC of Colorado Buffaloes?
While many star players struggle to succeed as coaches, Deion Sanders seems to have no such problems. Fresh from winning the SWAC Championship title with Jackson State, he has now received an opportunity to take over at the University of Colorado, Boulder.
His mere presence screams 'Prime Time.' As one of the best cornerbacks to ever play in the league, he was accordingly remunerated handsomely as a player. He won two Super Bowls back-to-back with the San Francisco 49ers and the Dallas Cowboys. He was the NFL Defensive Player of the Year in 1994 and made it to six Pro Bowls in his career.
Deion Sanders additionally played part-time in MLB, which allowed him to use his baseball career to secure lucrative contracts with NFL teams. He earned $60,000 in the summer with the New York Yankees and used that as leverage to get a $4.4 million deal with the Atlanta Falcons fresh out of the NFL Draft.
He signed a one-year $2 million contract extension with the Falcons but moved to the San Francisco 49ers on a one-year $1.2 million deal in 1994. That season, he was the Defensive Player of the Year and won the Super Bowl. This culminated with him moving to the Dallas Cowboys on a seven-year $35 million deal with $12.999 million as a signing bonus.
In the meantime, Deion Sanders also played for the Atlanta Braves from 1993 on a $3 million contract for three years. It was his last big contract in the MLB and he moved around the Cincinnati Reds and the San Francisco Giants before ending his career in baseball.
But his time with Dallas saw him win another Super Bowl and then move on to a seven-year $55 million contract with the Washington Redskins. It included a $8 million signing bonus. He played only one season for them before retiring. He did come back out of retirement to play for the Baltimore Ravens in 2004 on a one-year $1.5 million contract.
It was the end of Deion Sanders' football career, not his association with football. He became the head coach of Jackson State in 2020 after coaching various schools before that. He was on a four-year $1.2 million contract with them.
All of his sporting endeavors and associated wealth that came with it saw him rack up nearly $45 million in net worth. But his biggest coaching payday is yet to come from the University of Colorado.
How much will the Colorado contract add to Deion Sanders' net worth of $45 million?
The contract Deion Sanders has secured with the University of Colorado blows his previous contract with Jackson state out of the water. He has a $29.5 million contract with them for five years. That means he will get $5.9 million per year of his contract. He is scheduled to earn $5.5 million in his first year with it increasing by $200,000 every year. This puts him firmly among the top-paid coaches tier.
It's not just a huge jump for him, but also for Colorado. They were paying his predecessor Karl Dorell $3.6 million per year. The contract value is so huge that it is yet to be approved as they need to figure out the finances to get it through.
#PressPlay: At #DeionSanders’ first press conference, the athletic director of Colorado stated they don’t have the money for #DeionSanders’ contract. #theshaderoom #theshaderoomteens #theshaderoomnews2022 https://t.co/MRYV4LYWkF
They intend to have Deion Sanders coaching them for a while and he will owe them money if he leaves midcontract. He will owe $15 million if he leaves after the first season, $10 million after the second, $8 million at the end of the third and $5 million for the final two seasons.
He is expected to have a significant jump in his net worth because of this deal. It is well-deserved due to his accomplishments at Jackson State and his name recognition as a Pro Football Hall-of-Famer that draws players.