When the University of Colorado hired Deion Sanders to coach its football team in 2022, the athletic department was betting as much on Sanders the celebrity as Sanders the football coach.
Sanders, the football coach, was largely unproven, despite winning the SWAC championship at Jackson State the prior spring. When he was introduced in Boulder, Sanders set expectations high when it came to NIL, marketing, and content opportunities around the program. The Buffaloes were the subject of a documentary and brought in more transfers than nearly any other school in the first season.
But with Heisman winner Travis Hunter and Sanders’ son, Shedeur, gone, a new USA Today report shows that the program is in dire financial straits — to the tune of a $27 million deficit.
The potential budget crisis at the university was put into stark perspective Thursday by Denver radio host Zach Bye.
“I have been saying into this microphone for over a month, swimming against the current (of) what has been repeated (over and over) again in this market. ‘CU’s printing money, Colorado’s printing money,'” Bye said. “‘Yeah, Deion and they’re not winning, but they’re making so much money.'”
“This idea that CU is making money is a lie, full stop. And now I have the numbers to prove it.”
Is CU’s athletic department in more financial trouble than previously assumed? #CUBuffs #CoachPrime @byesline | @I_CU_boy pic.twitter.com/V3tYc5iExi
— Denver Sports 104.3 (@DenSports1043) December 3, 2025
The USA Today report highlights a confluence of poorly timed economic trends on campus in Boulder. While the Buffaloes floundered through a 3-9 season, the university reportedly gave Sanders a contract extension, raising his salary to more than $10 million annually. Colorado, like all universities, is also now paying more than $20 million per year in direct payments to athletes.
The program’s financial troubles leave it in need of donations and concert ticket sales to right the ship — or else the football program will need more than $41 million from the university. University spokespeople told USA Today that they expect to run a balanced budget going forward and will not cut any amenities for student athletes due to the reported shortfall.
However, Bye believes Sanders’ bloated salary is the mistake that needs to be corrected for Colorado to address its money troubles.
“Much like in life, when people make a lot of money, they spend a lot of money,” Bye said.
“CU has over-extended themselves in what they are paying, and the biggest bill of all … is Deion Sanders’ salary. They doubled his salary. It’s the biggest bill that the university has, is Deion’s salary. And I have been cautioning our listeners, saying, ‘If they don’t win and win big, this could end up being a disaster for CU-Boulder. And brother, we are trending that way in a hurry.”
Colorado football has never been a powerhouse, which might explain why they brought Sanders on in the first place. Without consistent success and business interest in the program, the Buffaloes may not have the fan base or infrastructure to keep up with rising costs. A similar dynamic in the Big Ten has led the conference to reportedly pursue a round of fundraising in tandem with a prominent investment fund.
Aside from an upset win at home over Iowa State in October, the Buffaloes in 2025 were a shell of the nationally relevant ratings darling Sanders had made them the past two seasons.
Bye, and cohost Phillip Lindsay urged Sanders to overhaul the coaching staff and rediscover a sense of direction so that donors, sponsors, and fans would once again support the program. Sanders recently promised Buffalo faithful that he would turn the program around for 2026.
“This university in general could be in trouble,” Bye said. “Because the football program is the front porch of the university … when your football team is losing, and the interest wanes and the bill stays the same, that’s how you end up upside-down.”
About Brendon Kleen
Brendon is a Media Commentary staff writer at Awful Announcing. He has also covered basketball and sports business at Front Office Sports, SB Nation, Uproxx and more.