Friday, December 13, 2019

Head coach Mike Norvell's contract details


https://www.tallahassee.com/story/sports/college/fsu/football/2019/12/12/florida-state-fsu-football-mike-norvell-contract-details-seminoles-head-coach-willie-taggart-buyout/4411446002/

New FSU head coach Mike Norvell -- officially announced by FSU Sunday after he coached Memphis to an AAC Championship Saturday -- will make a total of $26.5 million over the next six years. This equates to an average annual salary of $4.42 million before his annual retention bonus of $250,000.
He'll make $3.75 million in 2020 and max out at $5 million in 2025.
FSU will also be paying Norvell's buyout from Memphis, which is $500,000 according to Steve Berkowitz of USA Today Sports.
The contract states that Norvell's buyout would equate to 85% of the remainder of the contract if it is terminated early.
On the other hand, if he terminates the contract to take another job at the college or NFL level, the buyout he owes starts at $5 million in the first year and drops by $1 million each year.
The contract also states that Norvell will be given an approximate esti pool of $5.25 million to pay his 10 assistant coaches from. That's up slightly from the combined pool of $5,072,000 FSU's 10 on-field coaches made in 2019.

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