It is good to be Deion Sanders. Coach Prime has not only brought Colorado Buffaloes football back to national relevancy, but he's about to see his son Shedeur Sanders and his other son Travis Hunter go in the first round of the 2025 NFL Draft. While Colorado is a major pullback candidate next season because of those departures to the NFL, it is also great to be Coach Prime's growing bank account.
Sanders became the latest member of college football's $10 million-plus club in annual salary on Friday, reaching an agreement with the school on a new contract extension. He may not be a top-10 head coach in college football right now, but he is being paid like he is one in the hopes that he becomes one. This does not mean the NFL is out of the question for Sanders, but that he plans to stick around Boulder at least a little longer than many of us reasonably expected he would.
According to CBS Sports' John Talty, here are the head coaches who make $10 million annually.
Rank | Head Coach | Team | Salary |
|---|---|---|---|
1 | Kirby Smart | Georgia Bulldogs | $13.2 million |
2 | Ryan Day | Ohio State Buckeyes | $12.5 million |
3 | Dabo Swinney | Clemson Tigers | $11.5 million |
4 | Dan Lanning | Oregon Ducks | $11 million |
5 | Steve Sarkisian | Texas Longhorns | $10.8 million |
6 | Lincoln Riley | USC Trojans | $10.1 million |
7 | Kalen DeBoer | Alabama Crimson Tide | $10.25 million |
8 | Bill Belichick | North Carolina Tar Heels | $10 million |
8 | Deion Sanders | Colorado Buffaloes | $10 million |
10 | Brian Kelly | LSU Tigers | $9.9 million |
Sanders' new contract is a five-year deal worth $54 million with annual escalators built in. He will be making $10 million this fall, and it will go up from there. As you can see, Brian Kelly is close enough at $9.9 million. While Lincoln Riley's $10.1 million is a bit less than Kalen DeBoer's $10.25 million, coaching at a private school does have its benefits, as salaries do not need to be publicly disclosed.
So with that in mind, here are my best guesses as to who could be joining the $10 million club soon.
5. Nebraska Cornhuskers head coach Matt Rhule
Believe it or not, this is the Matt Rhule pop year at Nebraska. When he is leading a college football program of note in year three, they usually end up doing great things. (If he is leading an NFL team, he gets fired.) Rhule was able to finally get Nebraska back to a bowl game in year two, but the pressure is mounting on one of the loudest coaches in college football. So why do I even have him on this list?
If Rhule wins 10 games at Nebraska, the Huskers are probably making the College Football Playoff. He would have so much leverage heading into an offseason where other high-interest jobs such as Auburn and Florida could be opening up. While I doubt Rhule will ever want to inhale the smoke that comes from coaching in the SEC, he will find a way to get Troy Dannen to pay him eight figures yearly.
I picked Rhule over Lane Kiffin for this last spot because the threat of Rhule job-hopping is far greater.
4. Arizona State Sun Devils head coach Kenny Dillingham
This is a bit of a reach, but hear me out. Kenny Dillingham may not ever want to leave his alma mater of Arizona State, but we have seen many other excellent college head coaches do just that before him. The best and most recent example would have to be Jonathan Smith leaving his alma mater of Oregon State to take the bag that comes along with a rebuilding opportunity over at Michigan State.
In just two years leading Arizona State, Dillingham had the Sun Devils not only win the Big 12 but reach the College Football Playoff. They gave SEC runner-up Texas all they could handle in a Peach Bowl for the ages. Dillingham is my peer, but he might be the next rockstar head coach for all we know. I do not know if Arizona State is going to pay him eight figures, but another Power Four school might.
It may not happen right away, but back-to-back playoff appearances could do just that for Dillingham.
3. Tennessee Volunteers head coach Josh Heupel
This is the one I am really banking on. While I do not fully agree that Josh Heupel is a top-10 head coach in college football, he is about to be paid like one. The Tennessee Volunteers have among the easiest schedules in the SEC next year. UTK is already coming off a playoff season and has Nico Iamaleava back for at least one more year under center. There is also the threat of being poached.
Relationships will have to be mended, but there is a chance Oklahoma comes back begging to its former national championship-winning quarterback in an attempt to try and save face after another Brent Venables disaster. Nobody hates their alma mater more than Heupel; however, he could definitely play with Danny White and Jimmy Haslam's heartstrings to make Tennessee pay him big!
If Heupel leads the Vols back to the playoff, it is happening. If he wins the SEC, it happens right away.
2. Penn State Nittany Lions head coach James Franklin
I have mentioned three leverage plays already. While Kenny Dillingham may be left with no choice in the matter, mostly because I doubt Arizona State is going to pony up that type of cash to keep him, James Franklin is right there with Josh Heupel and Matt Rhule. Franklin is going to use what should be another 10-win season and another deep playoff run to bolster his bank account quite considerably.
To be totally honest, I was stunned to not see Franklin's name among the 10 highest-paid coaches in college football. I could have sworn Penn State was giving him top-10 money, but I guess not. Regardless, this just might be the year where Penn State finally wins a national title. The Nittany Lions' roster is loaded. Ohio State lost so much talent to the NFL and Texas is starting a new quarterback.
Franklin has to cash in his chip financially after what should be another fantastic year at Penn State.
1. Notre Dame Fighting Irish head coach Marcus Freeman
This is so obvious. It has to be Marcus Freeman. In his third year leading the Notre Dame Fighting Irish, the Golden Domers made it all the way to the national championship game. This team largely overachieved in terms of a talent perspective. Having Al Golden leading the defense was a huge blessing. It also goes to show that Freeman is starting to master how to be a CEO-type before 40.
With NFL teams potentially buzzing to get him, as well as other high-profile college jobs, it is not a matter of if, but a matter of when Freeman crosses the eight-figure financial threshold in his career. While I would argue that Ryan Day is safe in Columbus after winning his first national title, Freeman is an Ohio State alum. There is a chance the NFL could come calling for Day in a few offseasons as well.
Freeman is the next rockstar college football head coach who should be getting Dan Lanning money.