Jimbo gets extension to 2024

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Fisher’s new salary: $5.5M, making him one of the five highest-paid coaches in the country. This is an increase of $250K annually. The number is the same throughout the deal, as it is about guaranteed money and not annual raises.

Options: If Fisher’s Seminoles win 9 or more regular season games, the contract is extended by a year. There are two of these options available, meaning that the contract is very likely to run through 2026. This means that Fisher is essentially guaranteed to earn $55M from the school, not including bonuses.

Buyout if Fisher leaves: If he elects to leave, Fisher’s buyout is now the sum of all monies remaining on the contracts of his assistant coaches not retained by the university.

So, for example, if Fisher leaves, and the university retains none of ten coaches each making $500,000 on one-year deals, Fisher would owe the school $5M within 30 days. Given that many assistants are employed on two- or three-year contracts, it’s likely that this buyout number could be in the $10-15M range.

The practical impact of this is that it makes it safer for the school to give bigger raises to assistants, without the fear that it will be stuck paying them (or buying them out) if Fisher were to leave.

Buyout if FSU wants to terminate: Fisher would be owed the entirety of the contract — 20 weeks worth paid for by the school, and the remainder by the Boosters.

As an example, If FSU wanted to go in a new direction six years down the line, and the two option extensions have been triggered, it would cost the school/boosters roughly $22M to buy him out in 2022.

Recruiting: Fisher has received raises from the school in each of the last four seasons, thanks in large part to interest, real or perceived, from other schools. But a deal of this length will likely end the annual speculation about Fisher staying or going somewhere else. And that should help recruiting, and remove negative ammo from rival recruiters that Fisher is always looking to leave Tallahassee.

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