Colorado reportedly can’t afford to fire Deion Sanders, but buyout math gets complicated

November 6, 2026 · Yahoo Sports

Deion Sanders and the Colorado Buffaloes snapped a five-game losing streak on Halloween, beating the Kansas State Wildcats 27-24 in overtime in Boulder. The bigger question hanging over the program is being worked out somewhere other than the field.

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CBS Sports’ John Talty, Matt Zenitz and Chris Hummer reported last week that first-year athletic director Fernando Lovo may want a change, and they named New Mexico’s Jason Eck, Lovo’s former colleague at New Mexico, as a possible target. Their sourcing also pointed to the obstacle. Colorado is not believed to be in a position to cover a buyout north of $25 million, and that piece of the report has since spread as a sign Sanders could be back in 2027.

Deion Sanders a.k.a. Coach Rime of the Colorado Buffaloes (Credit: Ron Chenoy-Imagn Images)

Colorado is 3-5 and 1-4 in Big 12 play, and the Buffaloes are 6-14 across the last two seasons after going 9-4 in 2024. Sanders is 19-26 in four seasons in Boulder.

Sanders signed a five-year, $54 million extension that runs through 2029, with salaries of $10 million in 2026, $11 million in each of 2027 and 2028, and $12 million in 2029. If Colorado fires him without cause, it owes 75 percent of his remaining base salary, which comes to about $25.5 million before the end of this year and about $17.25 million in 2027.

Coach Prime on the hot seat?
According to 247Sports, industry insiders believe Colorado may not be able to afford the $25M+ price tag to move on from Deion Sanders, potentially paving the way for his return in 2027. https://t.co/NvE8Ki1Xcs
— Ossacin’s Ducktail (@OssacinDucktail) November 5, 2026

Does the buyout really keep Deion Sanders at Colorado in 2027?

The 2027 figure matches 75 percent of the $23 million Sanders would still be owed for 2028 and 2029, which means Colorado only gets to it after paying his $11 million salary for 2027. On those numbers, keeping him for one more season and then making a change would cost about $28.25 million, nearly $3 million more than acting now.

Waiting gives Colorado time to raise the money, which is the practical meaning of a school not being “positioned” to pay.

The CBS report also floated a negotiated settlement as a way for both sides to move on and left open whether Sanders would accept one.

Deion Sanders Brings NFL Draft Drama to Buffs Spring Camp (Imagn Image)

The cheapest exit for Colorado would be Sanders leaving for another job, since his contract requires him to pay the school $10 million if he takes a new coaching position in 2026.

Florida State’s opening briefly put his name in that conversation after the Seminoles fired Mike Norvell, but Noles247 insider Kolby Crawford told CBS Sports that the appetite in Tallahassee stops short of Sanders.

“While there is an appetite for someone who is an ‘FSU guy,’ it has been relayed from the top down that some of the baggage that comes with Deion is not desired as they commence this rebuild,” Crawford told CBS Sports.

That leaves Sanders with four games to change the conversation. Colorado needs three wins in that stretch, starting Saturday at the Arizona State Sun Devils, to reach bowl eligibility.

Colorado reportedly can’t afford to fire Deion Sanders, but buyout math gets complicated

Does the buyout really keep Deion Sanders at Colorado in 2027?

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