After a difficult two seasons to begin his tenure with the Florida State Seminoles, head coach Mike Norvell delivered consecutive 10+ win campaigns and was contentiously denied a spot in the College Football Playoff following the 2023 campaign. That short-team success saw him receive a new contract and salary boost, but what are the details of that deal between FSU and Norvell?
Mike Norvell’s Salary and Contract in 2024
As speculation swirled linking him to the head coach vacancy at the Alabama Crimson Tide, Florida State moved to secure Norvell with a contract extension that keeps him in Tallahassee through the 2031 college football season. Additionally, he received a salary boost that will see the Seminoles head coach earn $10,000,000 for the 2024 college football season.
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How much of a salary increase was it for Norvell? Well, in 2023, he made $5.55 million, and he was to make $7.55 million for the 2024 campaign prior to signing his contract extension. That isn’t the end of it, either. The Florida State head coach will see an incremental increase of $150,000 every year through the remained of the deal.
Full year-by-year salary details for Norvell are as follows:
- 2024: $10 million
- 2025: $10.15 million
- 2026: $10.3 million
- 2027: $10.45 million
- 2028: $10.6 million
- 2029: $10.75 million
- 2030: $10.9 million
- 2031: $11.05 million
Mike Norvell Buyout Details
The contract extension was a sign a faith in Norvell. However, after a difficult start to the 2024 season that have seen the Seminoles fail to live up to preseason expectations, fans are clamoring to know how much it might cost the program to buy their head coach out of his contract. Two winning seasons quietened early discontent, but the noise is rising once more.
Official numbers weren’t revealed alongside other contract details. However, if his contract is fully guaranteed, it would cost Florida State $74.2 million to relieve the head coach of his duties before the start of 2025. That figure drops to $64.05 million if he’s fired before the start of 2026, and then down to $53.75 million before the beginning of 2027.
While the official numbers of how much it would cost Florida State to buy Norvell out of his contract weren’t revealed, we do know how much it would cost the head coach to leave the program to take another job elsewhere — not that that particular situation is likely at the present moment. The full amounts are below:
- 2024: $6 million
- 2025: $4 million
- 2026: $3 million
- 2027: $2 million
- 2028: $2 million
- 2029: $1 million
Mike Norvell’s Net Worth
Following his recent contract extension and subsequent salary increase, Norvell now has a net worth that matches some of the highest-paid coaches in the ACC. Based on the length of the contract and by-year salary, the Florida State head coach has a net worth of $84.2 million.
That of course doesn’t include any previous salary at Florida State or in his previous stops along the coaching journey. It also doesn’t include any potental performance-related incentives, of which there are many even if it doesn’t look like Florida State will achieve many of the landmarks in 2024.
- Conference Championship Game Appearance: $100,000
- Conference Championship Game Win: $250,000
- Non-College Football Playoff (“CFP”) Bowl Appearance: $100,000
- CFP First Round Game Appearance: $250,000
- CFP Quarterfinal Game Appearance: $375,000
- CFP Semi-Final Game Appearance: $500,000
- CFP National Championship Game Appearance: $750,000
- CFP National Championship Game Win: $950,000
- Coach of the Year ($150,000 maximum)
- Conference Coach of the Year: $50,000
- National Coach of the Year: $100,000
- Academic Performance ($200,000 maximum)
- Single-Year APR of 950 or above: $100,000
- Single-Year APR of 970 or above: $125,000
- Single-Year APR of 990 or above: $150,000
- Single-Year APR of 1000: $200,000
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