Andrea Adelson, senior writer for ESPN
State of Florida coach Mike Norvell has agreed to a one-year, restructured contract that includes a $4.5 million contribution to help launch a new university initiative to raise money for revenue sharing, the school announced Monday.
The money will go toward a “Vision of Excellence” fundraising campaign that will help with revenue sharing, infrastructure, coaching and the overall student-athlete experience. Starting July 1, each Division I school will be able to share at least $20.5 million in revenue with its athletes under the House agreement.
Norvell is scheduled to earn $9.9 million in 2025 under a contract with incremental raises each year through 2031. Last season, Florida State finished 2-10 under Norvell, a year after winning the ACC Championship in 2023 . and finished with a balance of 13–1.
“I have presented this to our administration in an effort to increase support for our student-athletes while recognizing that performance and expectations must be maintained at the highest level,” Norvell said in a statement. “I wanted to be proactive in providing financial assistance during this transition period as we all strive to return to the standards of Florida football. We have great days ahead of us and I’m grateful to have the opportunity to coach these players and lead this staff. We have worked hard to keep the tradition alive here in the state of Florida, and I believe this step will help accelerate the process to where we are headed.”
Norvell is not the first coach to agree to a restructured contract to help with revenue sharing. Earlier this month State of Oklahoma coach Mike Gundy also restructured his contract. Sources told ESPN’s Chris Low that Gundy’s $7.75 million annual salary will be reduced and split in revenue sharing with the players.
Florida State athletic director Michael Alford said in a statement that Norvell “honestly assessed what the program’s leadership needed to move forward. I’m excited about the future of football in Florida. FSU will continue to be a leader in the new structure of college athletics, which includes how we provide our student-athletes with additional support. I will not be ashamed of encouraging others to emulate Coach Norvell’s actions and contribute in any way they can.
