Deion Sanders could not open the door to the news conference on Saturday night after his Jackson State football team defeated Southern 43-24 to win the SWAC title for its second consecutive championship at Veterans Memorial Stadium.
Sanders met with his JSU football team to tell them he was taking another job, to become head football coach at the University of Colorado. According to the Denver Post, Sanders was presented with an offer sheet Monday that will pay him and his assistant coaches well. The contract is more extensive than the one he signed with Jackson State, which includes a $300,000 buyout Sanders owes to JSU. On Monday, Sanders signed a $29.5 million contract for five years before bonuses and incentives.
Here is a breakdown of the rest of his contract, according to the Denver Post.
The contract has Sanders scheduled to earn $5.5 million in his first season, with a base pay of $500,000 supplemented by $1.75 million for radio, television, and public appearances; another $1.75 million for promotion and fundraising; and another $1.5 million for “development of the student-athlete.”
That compensation would 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, it is the largest financial package ever given to a CU football coach, which athletic director Rick George confirmed Sunday. George admitted that CU does not have the money to pay Sanders yet.
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Under the proposed agreement, Sanders would have a $5 million salary pool for his assistants and any support staff. The penalties are stiff should Sanders leave before the end of his contract. He would owe CU$ 15 million in liquidated damages if he leaves the school after the first year of his deal. Those damages drop to $10 million after his second year, $8 million after the third and $5 million after his fourth or final years.
If CU chooses to buy out Sanders’ contract prematurely, it would owe him 75% of the remaining base and supplemental salary left on the duration of the agreement.
Sanders’ other potential incentives include:
∎$750,000 if CU wins the national championship;
∎$450,000 if CU is invited to a “New Year’s 6” bowl game;
∎$150,000 if CU wins six games in a season;
∎$150,000 if CU wins the Pac-12;
∎$150,000 if CU is invited to a non-“New Year’s 6” bowl game;
∎$150,000 if Sanders is named National Coach of the Year;
∎$100,000 for each additional win after six games;
∎$75,000 if CU plays in a Pac-12 Championship game;
∎$75,000 if Sanders is named Pac-12 Coach of the Year;
∎$50,000 each time CU attains a team Academic Progress Rate of at least 965. In Year 1, that bonus is achieved if CU attains a team APR of at least 954.
∎Additionally, Sanders would receive a $20,000 payment for moving expenses.
Jackson State (12-0) plays North Carolina Central (9-2) in the Cricket Celebration Bowl on Saturday (noon, ABC). Sanders will coach the team in the bowl game before heading to Colorado.
This article originally appeared on Mississippi Clarion Ledger: Jackson State football’s Deion Sanders to get huge raise at Colorado