The two parties will remain in constant contact but no formal interview has been set up at this time.
“To hear from Jerry Jones is truly delightful, and it’s intriguing,” said Deion Sanders on Monday night.
“I love Jerry and believe in Jerry. After you hang up, and process it, and think about it, it’s intriguing. But I love Boulder and everything there is about our team, the coaches, our student body and the community.”
The report comes just after the team and now former head coach Mike McCarthy failed to reach an agreement on a new deal, making the coach a free agent to sign with another team.
Colorado went 13-12 in two seasons with Sanders as the head coach. Standout player Travis Hunter ultimately won the Heisman Trophy after a breakout year this past season for Colorado and is expected to be a top-five pick in the upcoming NFL Draft as is Deion's son and team quarterback Shedeur Sanders.
If Sanders does end up being the Cowboys head coach, he will be their third over the past decade.