Report: Deion Sanders Has $10M Contract Buyout with Colorado amid Cowboys Buzz

If the Dallas Cowboys want to hire Deion Sanders as their next head coach, it could cost them a pretty penny.

Per NFL Network's Jane Slater, Sanders has a $10 million buyout at Colorado, with that number decreasing after each year of his contract.

Slater also noted that Sanders "potentially" has an extension with Colorado on the table and could use the Cowboys' interest in him as leverage to increase the Buffaloes' offer to him.

"There's been some talk that there has potentially been an extension on the table in front of the regents," Slater said. "So is Deion using this leverage to get paid a little bit more and stay in Colorado? Is this interest from Jerry (Jones) real? I think the interest from Jerry is absolutely real. I guess the question is does Deion want to come here?

On Monday after Dallas and former head coach Mike McCarthy parted ways, Fox Sports' Jordan Schultz reported that Cowboys' owner Jerry Jones had spoken to Sanders and conversations are "expected to continue regarding the possibility of him becoming the next head coach in Dallas."

Slater reported that Jones has handled tracking down coaching candidates on his own, and Sanders was one of the first calls.

"It sounds like Jerry's been on a bit of a solo mission," Slater said. "He's picking up the phone, he's making calls. It's my understanding he has not yet called Kellen Moore, he has not yet called Kliff Kingsbury, he has not yet called (Steve) Sarkisian down at the University of Texas."

If Jones is serious about landing Sanders, he likely won't let a $10 million buyout stand in his way, but ultimately it will come down to whether Sanders is willing to leave Colorado.

He's indicated in the past that it would take a lot to pull him away from the Buffaloes, but if there's an NFL team that can do it, it's probably the Cowboys.