Florida State is drowning in $437 million in athletics-related debt, and firing Mike Norvell has only made its financial mess worse. That’s a $200 million increase from the previous year, largely driven by renovations to Doak Campbell Stadium and a new football operations building.

Now, with Norvell’s reported $51 million buyout adding to the burden, the Seminoles must find a coach capable of rescuing their struggling program without making another costly mistake.

“It just became blatantly obvious that something had to be done,” former Florida State quarterback Danny Kanell said on CBS Sports College Football on November 2. “I always felt coming into this season if Mike Norvell could get to eight wins he could get some of the fanbase, not all of them, but some of the fanbase behind him and able to carry some momentum potentially into an offseason for next year and get another year of life at Florida State.”

Kanell pointed to the Seminoles’ 36-24 loss to Clemson and the half-empty Doak Campbell Stadium as signs that Norvell’s time had run out. He then identified three potential replacements: Wake Forest’s Jake Dickert, Duke’s Manny Diaz, and FIU’s Willie Simmons.

Dickert kept Washington State competitive amid the Pac-12’s collapse before taking over Wake Forest. He guided the Demon Deacons to a 9-4 record in 2025, the most wins by a first-year head coach in program history. Wake Forest is now 7-1 in 2026, giving Dickert a 16-5 record across his first two seasons.

His defense ranks sixth nationally against the run, allowing just 82.9 yards per game. But his contract could present an obstacle. According to CBS Sports, Wake Forest assistant coaches face restrictions on joining another ACC program for at least a year. Whether Dickert has a similar clause remains unknown.

Diaz, a Florida State graduate, began his coaching career as a graduate assistant under Bobby Bowden before eventually becoming Miami’s head coach, compiling a 21-15 record over three seasons.

He has since revived his reputation at Duke, leading the Blue Devils to the 2025 ACC championship with a 27-20 overtime victory over Virginia. Diaz holds a 24-11 record at Duke, but his contract extension in April 2026 could complicate a move to Tallahassee. His buyout remains undisclosed.

Simmons brings deep Florida connections and a potentially lower price tag. The FIU head coach previously compiled a 45-13 record at Florida A&M, winning the 2023 SWAC championship and Celebration Bowl. After a stint as a position coach at Duke, he took over FIU and guided the Panthers to their first bowl appearance since 2019.

Kanell believes hiring Simmons at a lower salary could free up resources for roster improvements. Simmons reportedly earns $850,000 annually following a December 2025 contract extension, compared with Norvell’s scheduled $10.3 million compensation for 2026. The concern, however, is his lack of Power Four head coaching experience.

Norvell leaves Florida State with a 41-39 record. After an undefeated regular season and ACC championship in 2023, the Seminoles collapsed to 2-10 in 2024 and 5-7 in 2025 before opening the 2026 season at 3-5.

His departure also ranks among college football’s most expensive coaching firings. According to On3’s Pete Nakos, Norvell’s buyout is the third-largest in the sport’s history, behind Jimbo Fisher’s $76.8 million at Texas A&M and Brian Kelly’s $53.2 million at LSU. His contract guarantees 85% of his remaining salary, with payments extending through 2031.

Sources told On3 that dismissing Norvell and his staff, along with hiring replacements, could push the total coaching transition cost toward $100 million. Former Florida State quarterback Rick Stockstill will serve as interim head coach for the remainder of 2026.

Florida State now faces three different possibilities, each carrying its own risk. Dickert’s contract could complicate an ACC move, Diaz would have to be lured away from Duke, and Simmons remains untested at the Power Four level. After Norvell’s failed rebuild and a historically expensive firing, the Seminoles cannot afford another hiring disaster.