Details of Mike Norvell’s contract at Florida State have come to light, according to a few reports this afternoon.
Norvell’s deal with the Seminoles has widely been reported as a 6-year deal, and Steve Berkowitz shares that the contract has a “basic value” of $28 million. Salary for the first year of the deal works out to about $4 million (which includes a retention bonus due every December 31st worth $250k).
At Memphis, Norvell was one of the highest paid Group of Five coaches in college football at $2.66 million per year, per the USA Today Coaches Salary database.
If Norvell were to leave for another college or NFL job, he’d be on the hook for $5 million the first year, and that figure drops by $1 million annually over the life of the contract. If fired without cause, Norvell would be owed 85% of the remaining money left on his deal, subject to duty to mitigate.
Also noted, is that Florida State has agreed to pay the buyout Norvell is owed to Memphis, which is relatively slim in coaching buyout standards at just $500,000.
As for the salary staff pool, Berkowitz notes that Norvell will have a salary pool of about $5.25 million to work with for his 10 on-the-field assistants. That is slightly more than what they were set to allocate for Willie Taggart’s staff this next fall, which was $5.1 million.
Stay tuned to The Scoop for the latest.
Other than the annual retention payments, Norvell would be owed 85% of remaining compensation if fired without cause, subject to duty to mitigate https://t.co/vtbo1VEutu
— Steve Berkowitz (@ByBerkowitz) December 12, 2019