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Rashaan Salaam is auctioning off his Heisman ring

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Colorado's only Heisman winner is auctioning off some of that memorabilia.

Rashaan Salaam, who set a CU record by rushing for 2,055 yards and 24 touchdowns in 1994, is auctioning off his Heisman Trophy ring.

Yep, Heisman Trophy winners get rings in addition to a bronze statue.

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Heisman ring

The gold ring is size 11.5 and contains more than 20 diamonds totaling 1.5 carats. The ring is missing a diamond in the upper left corner, but it's still projected to sell for $15,000 - $25,000 and comes with a certificate of authenticity from Salaam and the auction house.

But why is Salaam selling?

Well, that's the great mystery.

According to the Denver Post, Salaam has been marketing mixed martial arts around the world and his business has taken a hit.

"I know he's been through some tough times with his business because of the economy," Colorado spokesman David Plati told the paper Tuesday at the Pac-12 Conference football preview in Los Angeles. "But it's not like he's in dire straits."

Salaam, a native of San Diego, is arguably the best player to wear a Colorado uniform. During that 1994 season, he had four consecutive 200-yard games and had 362 yards of total offense in a 34-31 win over Texas. The unanimous All-American led the Buffs to an 11-1 record that culminated in a 41-24 win over Notre Dame in the Fiesta Bowl and a No. 3 ranking in the final AP poll.

He was selected 21st overall by the Chicago Bears, but injuries shortened his pro career, which included stints with the Cleveland Browns and Green Bay Packers.

The auction is through the website of auctioneer Nate D. Sanders. Among the other things you might find on Sanders' auction block -- Lee Harvey Oswald's baby crib.

The current bid for the ring stands at $1,000. The auction ends Aug. 9.

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