Update: Mike Norvell announced Friday afternoon that he was staying at FSU. Reports said he agreed to an eight-year extension worth more than $10 million per year.

Florida State football fans heard the second-worst news Thursday: Dan Lanning is staying at Oregon.

The news that the Oregon head coach was standing pat meant worse news was still a possibility: that FSU football coach Mike Norvell might be replacing Nick Saban at Alabama.

Norvell has led the Seminoles back into national prominence in four seasons in Tallahassee, capped in 2023 with an undefeated regular season and an ACC championship putting them on the precipice of the College Football Playoff.

Norvell swatted away rumors he could replace Jimbo Fisher at Texas A&M earlier this season, but now that the football is over, fans are left to wonder whether they'll have a new coach in 2024.

Here's what we know:

Why is Mike Norvell being rumored to become Alabama coach?

The highly coveted Alabama position became open after Nick Saban announced his retirement Wednesday, January 10. Saban spent 17 seasons leading the Crimson Tide to becoming the pre-eminent college football powerhouse of the past decade-plus. After winning the 2003 national championship at LSU, Saban added six more at Alabama between 2007 and 2023, winning nine SEC championships and making the College Football Playoff eight times.

One of the first candidates to pop up in college football circles was Mike Norvell, who led FSU from a 3-6 record in his first season to a 13-1 record and a near College Football Playoff berth in his fourth. He also won the Paul "Bear" Bryant Coach of the Year Award, named after the legendary Alabama coach.

Who could replace Nick Saban at Alabama?

Alabama will want to bring in someone who can keep Saban's legacy going. Some leading candidates after Wednesday's announcement were Texas' Steve Sarkisian and Ole Miss' Lane Kiffin, who were both offensive coordinators under Saban. Other leading candidates were Norvell, Washington coach Kalen DeBoer and Clemson coach Dabo Swinney.

Oregon coach Dan Lanning was the leader for the job Wednesday, according to Bookies.com, but he announced Thursday that he would stay at Oregon. That moved Norvell to the lead position, shooting up from +1000 to +150 odds on BetOnline after Lanning's announcement.

Who is the favorite to replace Nick Saban?

According to Bookies.com, Norvell is the leader for the Alabama job with +300 odds as of 4 p.m. Thursday:

• Mike Norvell, FSU: +300

• Steve Sarkisian, Texas: +350

• Lane Kiffin, Ole Miss: +450

• Dabo Swinney, Clemson: +650

• Kalen DeBoer, Washington: +700

According to BetOnline, DeBoer is the favorite with Norvell close behind as of 4 p.m. Thursday:

• Kalen DeBoer, Washington: -150

• Mike Norvell, FSU: +150

• Steve Sarkisian, Texas: +175

• Lane Kiffin, Ole Miss: +500

• Dabo Swinney, Clemson: +2500

How long has Mike Norvell been coach for FSU?

Mike Norvell was hired Dec. 8, 2019. He came to Tallahassee after going 38-15 in four seasons as the Memphis head coach. Florida State had fired Willie Taggart after just short of two seasons on the job and was still recovering from Jimbo Fisher's departure for Texas A&M in 2016.

Norvell's four seasons at FSU started slow, going 8-13 in his first two seasons and suffering an infamous loss at home to Jacksonville State from the FCS. But things turned around in 2022, with the Seminoles going 10-3 and beating Oklahoma in the Cheez-It Bowl.

Then in 2023, FSU started the season 13-0 and won the ACC championship for the first time since 2014. The Seminoles were left out of the College Football Playoff, making them the first Power 5 conference champion to not make the four-team tournament in its 10-year history. FSU lost to Georgia 63-3 in the Orange Bowl after dozens of players opted out via the transfer portal, NFL Draft or because of injury.

Mike Norvell salary at FSU

In February 2023, the Seminoles announced a three-year extension for Norvell, which bumped his pay to an average salary of $8.05 million, which nearly doubles his $4.5 million annual salary from the original contract.

What is Mike Norvell's buyout at FSU?

In 2024, Norvell's buyout would come in at $4 million and is reduced each year thereafter.

Here's the breakdown:

• 2024: $4 million

• 2025: $3 million

• 2026: $2 million

• 2027: $2 million

• 2028: $1 million

• 2029: no buyout

FSU's contract states the buyout for Norvell would come in equal quarterly installments over the first 24 months following the date of termination, with the first such installment due within 30 days of the termination date.

FSU football fans react to Mike Norvell Alabama rumors

FSU fans clearly want Norvell to stay. Here's a look at some of the reactions on the social media site formerly known as Twitter:

Tallahassee Democrat reporter Ehsan Kassim contributed to this report.

This article originally appeared on Treasure Coast Newspapers: Mike Norvell to Alabama? What we know about FSU football coach rumors