Florida State head football coach Mike Norvell has reportedly agreed to a one-year restructured contract that includes a $4.5 million contribution to a new school initiative that will at least partly be focused on raising money for revenue sharing and facilities.
ESPN reported that the money will go toward the Vision of Excellence fundraising campaign, which the school characterizes as a "bold and immediate step forward" in helping the overall student-athlete experience. Starting July 1, each Division I school will be allowed to share at least $20.5 million in revenue with their athletes under a House settlement agreement.
Norvell is set to make $9.9 million in 2025 as part of his contract that increases every year through 2031.
"I presented this to our administration in an effort to boost the support of our student-athletes while recognizing that the results and expectations need to be upheld to the highest level," Norvell said in a statement. "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. Great days are ahead, and I'm grateful to coach these players and lead this staff. We have been hard at work to uphold the tradition here at Florida State, and I believe this step will help accelerate the process to where I know we are going."
Florida State athletic director Michael Alford said in a statement that Norvell "took an honest assessment of what the program needed from its leader to move forward. I'm excited about the future of Florida State football. FSU will continue to be a leader in the new structure of collegiate athletics, and that includes how we provide for our student-athletes. It will take additional support. I'm not going to be shy about encouraging others to follow Coach Norvell's actions and contribute however they can."
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.
