Colorado reportedly offered a contract that exceeds $5 million annually to current Jackson State head coach Deion Sanders.

CBS Sports reported Friday that Sanders is expected to leave for another job and is weighing offers from Colorado and Cincinnati.

Jackson State is 11-0 entering the SWAC championship game Saturday against Southern University. Sanders went 11-2 the previous season and is 26-5 in three campaigns as JSU head coach.

Colorado finished the 2022 season 1-11 and fired head coach Karl Dorrell in October after an 0-5 start in which all the losses were by at least 23 points.

CBS reported Sanders can push his annual salary up by 40 percent each season by hitting all of the 12 performance-based escalator clauses in the proposed deal and could “reasonably make $7 million” each year if he hits only a portion of those clauses.

Sanders also talked to Cincinnati, which has focused on big names in a search for Luke Fickell’s replacement. Fickell left to become head coach at Wisconsin.

As part of Dorrell’s buyout, Colorado paid $8.7 million owed by the end of 2022.

–Field Level Media