Coach Prime is cashing in on a resurgent Colorado Buffaloes football season.

Deion Sanders earned at least $600,000 in performance bonuses — according to the employment contract he signed with CU in December 2022 — after the Buffs went 9-3 in his second year as head coach.

No. 23 CU faces No. 17 BYU in the Alamo Bowl on Dec. 28 at the Alamodome in San Antonio.

Sanders inked a 5-year, $29.5-million deal to lead the Buffaloes with “incentive salary related to competitive success,” per the contract.

He hit the following milestones in 2024:

—If the football team wins six games in the regular season: $150,000

—For each additional win after six wins in the regular season: $100,000 (3x)

—If the football team is invited to a non-New Year’s Day bowl game: $150,000

Last year, with a 4-8 season, Sanders reportedly earned $250,000 not listed in his contract for an “employee recognition bonus,” according to USA Today. It is plausible Sanders earns more than $600,000 this year after leading CU to its first bowl game appearance since 2020.

Below is further analysis of Sanders’ contract and what it says about his future in Boulder.

Unknown total

Sanders entered the 2024 season with the school as reportedly the 38th-highest paid head coach in Division I football with a university salary of $5.7 million. But his total compensation is unclear.

The NCAA requires that athletic department staff members must report their annual earnings from “athletically related income or benefits from a source outside the institution … to the president or chancellor on an annual basis.” That includes endorsement deals not listed in the employment contract.

Sanders is featured prominently in national TV advertising campaigns for brands like Aflac Insurance and California Almonds. He is not required to provide written documentation of such income, per his CU contract. Sanders is only responsible for a “detailed verbal accounting” that is not subject to the Colorado Open Records Act.

Extension talks

Sanders and CU agreed to “meet and confer in good faith at the conclusion of the 2025 season to discuss any potential extension” of their contract that runs through 2027. Those discussions must address “base, supplemental, and incentive salary.” They will also negotiate the financial penalty if Sanders does not fulfill his contract or if the school terminates it without cause.

However, it’s possible extension talks are accelerated.

National sports analysts have speculated that Sanders would be a head coaching candidate at Florida State and with the Dallas Cowboys. Sanders has not wavered in his public desire to remain in Boulder — “I’m happy where I am, man,” he said recently — but CU athletic director Rick George likely can’t wait until 2025 to extend Sanders’ contract.

George addressed that topic on Dec. 6 in an interview with Buffzone.com

“Everybody talks about all these rumors and all these other things, and I kind of tune out that noise,” George told The Boulder Daily Camera. “I know who Deion is, and I know what he represents, and I believe he wants to be here for the long haul. We’ve supported all the initiatives that he’s embraced, and we’ll continue to do that. My expectation is that he’ll be here, and he can write some of our record books moving forward.”

Liquidated damages

If Sanders leaves CU for another coaching job, while still under contract, he will owe the university “liquidated damages” based on when he terminates the deal.

—On or before Dec. 31, 2024: $10,000,000

—On or before Dec. 31, 2025: $8,000,000

—On or before Dec. 31, 2026: $5,000,000

—On or before Dec. 31, 2027: $2,000,000

Sanders must notify George if he is offered another position or before “any discussions that could reasonably lead to a job offer.” Sanders is also required to give three days written notice if he negotiates or accepts employment before the end of his contract term.

Sanders will voluntarily terminate his contract if he accepts “another Division I or National Football League coaching position” before 2028.