Colorado rewards Deion Sanders with contract extension, becomes one of college football's highest-paid coaches

Deion Sanders will be coaching in Boulder for the foreseeable future.

Two years ago, Coach Prime brought an unprecedented level of attention to Colorado football. On Friday, the university announced that a five-year contract extension for Sanders had received approval from the Board of Regents. 

The five-year contract is worth $54 million, NFL Media reported.

The salary would make Sanders one of college football's highest-paid coaches and ties him to Colorado through the 2029 season.