Florida State coach Mike Norvell has agreed to a one-year restructured contract that includes a $4.5 million contribution to launch a new university initiative for revenue sharing. The money will support the Vision of Excellence fundraising campaign, benefiting revenue sharing, facilities, coaching, and student-athlete experience. Norvell's contract includes incremental raises through 2031, with a projected $9.9 million salary in 2025. This move follows a 2-10 season for Florida State, with Norvell aiming to boost support for student-athletes and uphold the program's standards. Norvell joins Oklahoma State coach Mike Gundy in restructuring contracts to contribute to revenue sharing with players.
Source: https://www.espn.com/college-football/story/_/id/43003950/florida-state-mike-norvell-restructures-deal-gives-45m-new-initiative