Colorado Doesn't Currently Have The Money To Pay Deion Sanders

Colorado handed Deion Sanders a massive contract, but the athletic department doesn't actually have the money to pay it.

Yes, you just read that sentence correctly. Colorado's deal with Deion Sanders is for $29.5 million over five years, but the Buffaloes are still looking for ways to compile that heap of cash.

Colorado AD Rick George told the press Sunday that the program doesn't "have the money yet," but that the Buffaloes should be in solid position to get it.

He added he's "not worried about" getting the cash to make sure Sanders gets his money.

Colorado is still looking for money for Deion Sanders.

This is a fascinating admission from AD Rick George. Why would Colorado even admit this publicly?

Obviously, Deion Sanders is aware of the finances behind the scenes, but admitting you don't currently have the money to pay a contract makes the program look broke.

Could you ever imagine Alabama or Ohio State stepping to the podium and talking about still needing to scrape money together? The answer is no. That would never happen. It's comical to even consider.

Colorado doesn't have the money yet to pay Deion Sanders' full contract. (Photo by Helen H. Richardson/MediaNews Group/The Denver Post via Getty Images)

However, that' exactly what happened with Colorado and Deion Sanders. It goes to show the Buffaloes are exactly in the group of haves when it comes to the haves and have nots of the P5. As noted by Brian Howell, Karl Dorrell's $3.6 million salary was the most for a coach in CU history.

That's not impressive at all for a P5 program. Now, Colorado has made a significant financial commitment to Deion Sanders.

Colorado officially introduced Deion Sanders as head coach. (Photo by Helen H. Richardson/MediaNews Group/The Denver Post via Getty Images)

While there's certainly no reason to panic, it's still an incredibly strange thing to admit. As expected, Deion is already off to a very interesting start in Boulder.