Highest-Paid College Football Coaches After Deion Sanders' Massive Contract Extension

Sanders' average yearly salary of $10.8 million makes him the fourth-highest paid coach in college football, per DNVR's Scott Procter. Georgia's Kirby Smart ranks No. 1 at $13.2 million, Ohio State's Ryan Day follows at $12.5 million, and Clemson's Dabo Swinney is third at $11.1 million. Behind Sanders, Texas' Steve Sarkisian makes an average of $10.6 million. Smart, Day, Swinney and Sarkisian all led their respective teams to the College Football Playoff last season.

USC's Lincoln Riley is the sixth-highest paid coach in college football at $10.04 million per year, followed by $10 million earners Kalen DeBoer (Alabama), Mike Norvell (Florida State) and Bill Belichick (North Carolina). LSU's Brian Kelly is close behind at $9.9 million per year.

"I'm excited for the opportunity to continue building something special here at Colorado," Sanders said in a press release. "We've just scratched the surface of what this program can be. It's not just about football; it's about developing young men who are ready to take on the world. I'm committed to bringing greatness to this university, on and off the field. We've got work to do, and I wouldn't want to be anywhere else but here, making history with these incredible players and this passionate fan base. Lastly, anybody got at least a five-bedroom home with acreage for sale?"

Within the Big 12, Sanders' new contract makes him the only known coach making over $8 million per year. Oklahoma State's Mike Gundy averages $7.75 million, and Kansas' Lance Leipold makes $7.5 million. Contract details for BYU's Kalani Sitake aren't made public.

Per Howell, Sanders can make additional money through performance incentives, including a $150,000 bonus for reaching the Big 12 Championship Game. If Colorado wins the College Football Playoff National Championship, "Coach Prime" would be rewarded $250,000.

"Coach Prime has revolutionized college football and in doing so, has restored CU football to our rightful place as a national power," Colorado athletic director Rick George said. "This extension not only recognizes Coach's incredible accomplishments transforming our program on and off the field, it keeps him in Boulder to compete for conference and national championships in the years to come."  

Colorado's third season under Sanders' leadership begins Aug. 29 against Georgia Tech.