Deion Sanders -- I'm Doing a Reality Show with Kids

Deion Sanders is re-joining the ranks of reality TV stars -- but TMZ has learned Prime's new project will center around his other new project ... a charter school in Texas.

Sources close to Sanders tell TMZ the legendary NFL star is working on a show that will focus on Deion and his work coaching the football team at Prime Academy, the school Deion is opening later this year.

We're told the show will also show Deion off the field ... as a single father raising his kids. Our sources say Deion does not want the show to slant negative or bash anyone ... such as his ex-wife Pilar.

According to our sources, the show will be executive produced by Tracey Edmonds, the ex of Babyface and Eddie Murphy, who was recently dragged into Deion's divorce and has produced several shows and movies. Sources close to Deion tell us he first approached Tracey about the show after he filed for divorce.