Colorado might be stuck with Deion Sanders, whether it likes it or not. The Buffs finished 2025 at 3-9, and even a desperately needed overtime victory against Kansas State hasn’t silenced questions about his future. Now, insiders suggest influential figures could be exploring ways to fund his exit. But Colorado reportedly faces a $26 million buyout that could make firing Sanders nearly impossible.

According to a November 3 report from College Sports Network, insider Phillip Dukes claimed that coaches had been informed Colorado could become a potential opening, raising fresh questions about Sanders’ future.

“I can confirm, I have talked to sources, that coaches have been told that Colorado has a potential opening,” Dukes said, adding that influential people were reportedly trying to determine where the money for Sanders’ buyout could come from.

Colorado hasn’t confirmed any plans to replace Sanders, leaving those insider claims unverified by the university.

CBS Sports’ John Talty also raised concerns about Colorado’s ability to afford Sanders’ departure. In an October 28 report co-authored with Matt Zenitz and Chris Hummer, industry sources suggested the university wasn’t positioned to cover a buyout exceeding $25 million. Talty also discussed the situation in a conversation shared by Ossacin’s Ducktail on X.

“USC might be willing to pay $70 million to get rid of Lincoln Riley,” he said. “It does not seem like Colorado wants to spend about $26 million to move off of Deion Sanders.”

Unlike USC, Colorado faces a tighter financial situation, potentially limiting its ability to pursue a fresh start regardless of frustration with the team’s performance.

Meanwhile, another name has surfaced in the coaching conversation. In its October 28 report, CBS Sports revealed that industry sources believe first-year athletic director Fernando Lovo could be interested in making a change. New Mexico head coach Jason Eck, who previously worked with Lovo at New Mexico, was identified as a potential replacement. However, there’s no confirmation that Colorado has approached Eck or formally begun searching for Sanders’ successor.

Talty also raised the possibility of a negotiated departure, which could allow Colorado and Sanders to separate without paying the full buyout. But whether the coach would entertain such an arrangement remains uncertain.

“To this point, it’s unclear whether he would want to do that,” Talty added. “And if Deion wants to stay, industry sources believe that Colorado is not going to be able to spend that money to move off of him, which is kind of a tricky deal for them and could lead to Deion coming back in 2027.”

Sanders hasn’t exactly sounded like someone preparing to walk away. Speaking to NBC Sports’ Nicole Auerbach in July, the 58-year-old expressed his commitment to coaching after recovering from bladder cancer surgery.

“This is my calling. We already know I’m answering,” Sanders said.

He also acknowledged that his health struggles affected his coaching during Colorado’s disappointing 2025 campaign. Sanders admitted he failed to make necessary adjustments but insisted he was feeling like himself again. He expressed confidence in his revamped roster and coaching staff, believing the program had already turned things around.

That optimism hasn’t translated into consistent results, putting the university’s substantial investment under scrutiny.

Colorado had legitimate reasons to believe in Sanders when it handed him a five-year, $54 million extension through 2029. His arrival brought national attention back to Boulder, while his aggressive transfer portal strategy helped rebuild the roster.

The 2024 season strengthened that confidence. Colorado finished 9-4 behind quarterback Shedeur Sanders and Heisman Trophy winner Travis Hunter, suggesting the program was building something sustainable.

But that momentum disappeared in 2025, when the Buffs lost seven of their final eight games. The struggles carried into 2026, despite an encouraging early victory over Georgia Tech.

An October collapse against Oklahoma State made matters worse. Colorado suffered a humiliating 57-24 defeat, surrendering the most points in a game under Sanders. The Buffs entered November at 3-5 following five consecutive losses.

Sanders’ offseason roster overhaul and coaching changes have failed to deliver the turnaround he anticipated, leaving Colorado’s long-term direction increasingly uncertain.

Waiting could provide Colorado some financial relief. Sanders’ reported buyout would fall to approximately $17.25 million after the 2027 season, compared with roughly $25.5 million after 2026. But retaining him would mean betting on another turnaround following consecutive disappointing seasons.

For now, Colorado’s biggest challenge isn’t simply deciding whether Deion Sanders deserves another season. It’s determining whether the university can afford to move on from him.