Report: Additional details emerge on Mike Norvell contract, buyout information revealed

After an impressive 2022 season at Florida State, Seminoles head coach Mike Norvell has received a lucrative contract extension. After boasting a 10-3 record this season, Norvell has been rewarded with a multi-year extension said to be worth more than $8 million a year. And thanks to ESPN’s Adam Rittenberg, more details about the contract have emerged, including the buyout price for the Seminoles headman.

“Additional Mike Norvell FSU contract details: Base salary increases to $5.335 million in 2023, then $7.335 million in 2024, and up to $8.585 million in 2029. Annual retention bonus of $250K. His buyout to leave FSU begins at $6 million in 2023 and drops to $4 million in 2024,” said Rittenberg via Twitter.

The Seminoles brass has done their due diligence and has decided to lock down Norvell for the foreseeable future. And just in case he is unable to continue his winning ways at the program, Florida State has made sure the buyout situation is more manageable and less treacherous than some of the other programs around the nation have gone through or are currently involved in.

Florida State announces contract extension, raise for Mike Norvell

Norvell is set to be in Tallahassee for the foreseeable future. The Florida State head coach has agreed to a contract extension and raise, the program announced Wednesday .

Norvell’s new contract runs through 2029 and he’ll see his salary jump to an average of $8.05 million per year, according to a “new compensation structure” as part of the deal. To put that into perspective, Norvell made $4.5 million last year. The news comes after Florida State’s impressive 2022 season that saw a 10-3 record and a No. 13 ranking in the final College Football Playoff rankings — one year after a 5-7 campaign in 2021.

Norvell just wrapped up his third season with the Seminoles after a four-year stint at Memphis. He led the Tigers to three straight AAC titles, including a 12-1 record and a Cotton Bowl appearance.

“I’m grateful for the trust our administration continues to place in me to lead the Florida State football program,” Norvell said in a statement. “President Richard McCullough, the Board of Trustees and Michael Alford have been important pieces in our success, and the alignment we have makes me excited for the future of this program. I appreciate their support and vision to continue our climb toward the top of college football.

“I’m also thankful for the people who brought me and my family here three years ago, along with the players and staff whose commitment has helped us build this foundation. The future is bright here in Tallahassee.”