College Football

Should FSU Fire Football Coach Mike Norvell? Contract, Buyout & Incentives

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By
David Evans
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David Evans Sports Editor

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Published03 Sep 2024

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mike norvell

The 2024 college football season has quickly turned into a nightmare for Florida State University (FSU) and head coach Mike Norvell. After a stellar 2023 season with a 13-1 record, expectations were sky-high as FSU entered the new season ranked No. 10 in the nation. The Seminoles were riding high despite missing out on the College Football Playoff due to an injury to their star quarterback, Jordan Travis.

However, the optimism evaporated after a disastrous start. FSU has stumbled to a 0-2 record, suffering a shocking loss to Georgia Tech in Ireland during Week 0, followed by a disheartening defeat to Boston College. The Seminoles have looked disorganized on both sides of the ball, with a faltering offense and a defense that has struggled to stop even unranked opponents. Now, just two weeks into the season, fans and analysts are questioning whether Norvell is still the right person to lead the program.

Financial Implications: Buyout, Contract, and Incentives

Firing Mike Norvell would come with significant financial implications, especially considering the terms of his contract, which is reportedly fully guaranteed after a contract extension at the beginning of 2024. If FSU were to part ways with Norvell, the buyout would be substantial, based on the total remaining salary on his contract at the time of termination.

Buyout Details

  • After 2023 Season (Beginning of 2024): $84,200,000
  • After 2024 Season (Beginning of 2025): $74,200,000
  • After 2025 Season (Beginning of 2026): $64,050,000
  • After 2026 Season (Beginning of 2027): $53,750,000
  • After 2027 Season (Beginning of 2028): $43,300,000
  • After 2028 Season (Beginning of 2029): $32,700,000
  • After 2029 Season (Beginning of 2030): $21,950,000
  • After 2030 Season (Beginning of 2031): $11,050,000

Contract Salary Details

Norvell’s contract outlines a significant salary increase over the duration of the agreement:

  • 2024: $10,000,000
  • 2025: $10,150,000
  • 2026: $10,300,000
  • 2027: $10,450,000
  • 2028: $10,600,000
  • 2029: $10,750,000
  • 2030: $10,900,000
  • 2031: $11,050,000

In addition to his base salary, Norvell has a comprehensive incentive structure that rewards both on-field success and academic achievements.

Incentive Structure

Conference Championship Bonuses

  • Appearance in Conference Championship Game: $100,000
  • Win Conference Championship Game: $250,000

Post-Season Bowl Bonuses

  • Non-College Football Playoff (CFP) Bowl Appearance: $100,000
  • CFP First Round Appearance: $250,000
  • CFP Quarterfinal Appearance: $375,000
  • CFP Semi-Final Appearance: $500,000
  • CFP National Championship Appearance: $750,000
  • CFP National Championship Win: $950,000

Coach of the Year Bonuses

  • Conference Coach of the Year: $50,000
  • National Coach of the Year: $100,000

Academic Performance Bonuses

  • 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

Is It Worth It?

Firing Mike Norvell would not only be expensive but could also set the program back further. While the early losses in 2024 are disappointing, it’s worth considering the broader context. Norvell has shown the ability to turn a struggling program around, as evidenced by his success in 2022 and 2023. Additionally, the costs associated with hiring a new coach, both financially and in terms of team cohesion, could be substantial.

That said, the buyout is a significant figure, and the university must weigh the costs carefully. The decreasing nature of the buyout means that patience might be the most financially prudent approach. If FSU decides to stay the course, they could reap the benefits of a coach who has proven he can build a winning program. However, if the Seminoles continue to struggle, the pressure to make a change will only grow.