Florida State's Norvell agrees to restructured contract that gives $4.5M to fundraising campaign
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
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 is redoing his contract for one year 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.”
