‘Pros and cons’ – $4.6m Shedeur Sanders has $500k Rolls Royce but reveals hidden pitfalls of seven-figure wealth

Shedeur Sanders has officially signed his rookie NFL contract.

Sanders, son of Dallas Cowboys legend Deion Sanders, endured an unprecedented slide in the NFL Draft last month despite being widely projected to be a first-round pick.

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Sanders recently made his debut in orange and brown during rookie minicampCredit: GettySanders waited, waited, and waited some more, before eventually being selected by the Cleveland Browns on Day 3 of the draft with the 144th overall pick.

The Browns have since inked Shedeur to a four-year, $4.6 million contract, adding to his already impressive net worth — believed to be around $4 million.

In August last, the 23-year-old quarterback became the first college football player to sign a Name, Image, and Likeness (NIL) deal with Nike.

The landmark legislation around NIL, introduced in July 2021, finally allowed student-athletes to make money from their associated brands for the first time in history while still being in college.

READ MORE NFLIt saw Sanders lead all college athletes with an NIL valuation of $5.1 million, per On3, beating the likes of LSU gymnast Livvy Dunne, Texas quarterbacks Arch Manning, and former Colorado Buffaloes teammate Travis Hunter.

Last year, Shedeur Sanders, along with older brother Shilo, now a defensive back for the Tampa Bay Buccaneers, appeared on former NFL player Robert Griffin III’s ‘Outta Pocket’ podcast to discuss their newfound wealth.

During the discussion, RGIII mentioned that Shedeur once showed up at the Buffs facility in his Rolls Royce Cullinan – worth between $400,000-$500,000.

Sanders has since gone viral for having that same car wrapped.

“Do you guys like NIL?,” Griffin III asked as the three burst into laughter.

However, the tone quickly changed as Sanders revealed the pitfalls of his immense seven-figure wealth.

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Shilo (top) and Sheduer (bottom) discussed their NIL earnings with RG3 (right)Credit: YouTube@OuttaPocketRG3

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Shilo reportedly filed for bankruptcy in October 2023Credit: GettyShedeur said, “I definitely love NIL, but there’s pros and cons to it though. You got to don’t feel like you made it already. When you able to get whatever you want any time in life, then there’s like a lot of things don’t really interest you no more.

“So you got to really get down to the core, what makes you happy? Which is the making the music, the chilling, the having luxury things and doing that type of stuff what makes you happy and of course being with the family.

He then added, “Tax is not good.” 

RGIII, who played eight seasons in the NFL, most notably for Washington, replied, “I don’t think a lot of people understand.”

“They’re gonna understand sooner or later,” Shilo chimed in with.

Griffin then asked the brothers whether the pay disparities among teammates could create tension within locker rooms.

Shilo drives a Tesla Cyberbeast, bought by Sheduer and worth $100,000, and Griffin wondered if that might irk lesser-paid teammates.

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Sheduer has signed a $4.6 million rookie deal with the BrownsCredit: Getty

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Sanders has a $500k Rolls Royce but revealed the hidden pitfalls of his seven-figure wealthCredit: Getty“It just depends on how you are. If you walking around being this big guy and all, then it’s all right, bro… It’s not even worth all that,” Shedeur said, downplaying the potential for locker room drama.

“If I’m riding around in something, they going to be riding around in it too, basically. So it’s not really just like flexing or nothing,” Shilo explained.

Shedeur’s NIL valuation was projected at $4.7 million heading into the 2024 season, but that figure increased at the back end of 2024 due to his deal with Nike.

In August last year, the son of Prime Time signed a deal with the powerhouse brand that included officially licensed apparel and footwear.

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Sheduer became the first college athlete to sign a deal with NikeCredit: GettyPrior to that, he already had lucrative endorsement deals with the likes of Gatorade, Google, Urban Outfitters and EA Sports.

Shedeur now has a $4.6m deal with the Browns, which could have been much more had he been selected earlier in the draft.

The difference between a top-five contract and a late first-round deal can be as much as $30 million, according to sports business analyst Darren Rovell.

Sanders is also highly unlikely to much of his $4.6 million deal, as taxes will have a say in how much he actually takes home.

Sanders will now have the opportunity to compete for the starting quarterback position in Cleveland.

With incumbent starter Deshaun Watson looking to be out for the entire season due to his ruptured Achilles tendon, the QB1 spot is up for grabs.

The Browns brought back Joe Flacco who led the team to the postseason two seasons ago when Watson was again injured.

They traded for Kenny Pickett in the offseason and drafted Dillon Gabriel out of Oregon a round before Sanders.

Read More on talkSPORTHe recently made his debut in orange and brown during rookie minicamp.

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