UPDATED: Jimbo Fisher and Florida State have agreed to a one-year extension taking him through the 2015 season. The new deal is worth approximately $2.75 million annually.
"I want to thank Florida State for being proactive and helping our program, our coaching staff and myself," said Jimbo Fisher. "I really appreciate our president, athletic director, trustees and boosters for seeing the vision we have for the program. The help and commitment they are providing will allow us to continue to take things in the direction we want to go. Everything is in place here at Florida State to be very successful and I really appreciate FSU's commitment to excellence."
The deal makes the 45-year old the highest paid college coach in the state of Florida. New Florida head coach Will Muschamp recently signed a deal worth approximately $2.7 million annually. Fisher is also among the tops in salary for the ACC.
The additional compensation in Fisher's extended contract will come from FSU's athletics contract with IMG and Nike and no public or private donations will be used.
"We are extremely pleased that we are able to extend Coach Fisher's contract," said Spetman. "The enthusiasm and momentum within our program is remarkable and we wanted to make sure that continues. The marketplace for coaches is very competitive and we believe this shows a strong commitment by both parties for the future of Seminole football."
In his first year as head coach, Fisher led FSU to a 10-4 record, victories over rivals Florida and Miami, and a Chick-fil-A Bowl win.
Fisher's contract extension documents will be released to the media after they are fully processed.