Guys, I'm 99% sure that yes, they offered a 4 year scholarship. And yes, the school is going to honor that scholarship.
But, what I don't think they said is that "you are guaranteed a spot on the football team for 4 years."
If a kid is no longer a good enough football player to be on the 85 man roster even though they've abided by the rules and put in the effort, I'm 100% ok with the coaches sitting down with them and essentially telling them "you're unfortunately not going to be able to play football at CU any longer, and you will no longer be on the team. You can enter the transfer portal and see if you can get a scholarship to play football somewhere else, or you can stay at CU as a non-athlete student, and the school will continue to pay your tuition, room & board so long as you continue making academic progress toward getting your degree in 4 years."
Unfortunately, I don't believe NCAA rules would allow them to even be on the walk-on team, but there's no reason those scholarships can't be transferred out the AD.
The 1% of doubt in my mind is if the NCAA technically allows a school to create a scholarship that's effectively "you we're recruited over and got cut from the team, but we're still paying for your school."
But... even if that is the case, I'm 100% sure that the NCAA let's you do that for "medical retirements." And, there's not a single football player alive that doesn't have some injury history, so...