Florida State's Norvell agrees to restructured contract that gives $4.5M to fundraising campaign
TALLAHASSEE, Fla. (AP) — Florida State and Mike Norvell have agreed to a restructured contract that includes the football coach contributing $4.5 million of his 2025 salary to help launch a fundraising campaign amid the sport's changing financial landscape.
Norvell signed a new deal last spring that nearly doubled his annual salary to $9.9 million. The Seminoles, though, went 2-10 this season. It was the program's worst record in 50 years.
Now, Norvell is doing something to help fund the team's rebuild. He signed an amended, one-year contract to spearhead the school's new Vision of Excellence program, which will raise money as colleges begin to share revenue directly with athletes under the new House settlement agreement. The agreement permits Division I schools to share up to $20.5 million annually with athletes beginning July 1.
“I wanted to be proactive in my financial assistance through this time of transition as we all push forward to get back to the standard of Florida State football," Norvell said in a statement released Monday. "I believe this step will help accelerate the process to where I know we are going.”
Norvell, though, will have a chance to earn the money back. His revised contract includes an annual performance bonus that would pay him $750,000 beginning in 2026 if the Seminoles win at least nine games. So if FSU wins nine games every year between 2026 and 2031, Norvell would earn back the $4.5 million.
His revised contract also includes an amendment that would give Norvell a prorated portion of the $4.5 million if he's fired without cause between now and the end of the deal. It starts at 85% of the $4.5 million if he's fired in 2025 and decreases by $750,000 every year through 2031.
Norvell is at least the third coach in the past two weeks to give back to his school in some way, shape or form. LSU coach Brian Kelly announced last week that he would match donations up to $1 million to the school's collective. Oklahoma State coach Mike Gundy signed a reduced contract that funnels the saved money to revenue-sharing efforts.
Norvell is 33-27 in five years at Florida State. His tenure includes a 13-0 start to the 2023 season, the one in which the undefeated Seminoles got snubbed in the College Football Playoff.
“We are grateful for Coach Norvell’s commitment to our student-athletes,” FSU athletic director Michael Alford said in a statement. “He is a high-character person who took an honest assessment of what the program needed from its leader to move forward. ... I’m not going to be shy about encouraging others to follow Coach Norvell’s actions and contribute however they can.”
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