By Ana Goñi-Lessan, The News Service of Florida
TALLAHASSEE – State University System leaders on Thursday signed off on a three-year extension of Florida State University President Richard McCullough’s contract and the sale of a Tallahassee hospital to the school.
During their meeting in Pensacola, the Board of Governors voted to keep McCullough, the former vice provost for research at Harvard University, at FSU through 2029.
“It’s been an honor of a lifetime, I’m humbled to be the leader of Florida State University,” said McCullough, who became FSU’s 16th president in 2021.
Timothy Cerio, vice chair of the board, lauded McCullough for the way he led the university through the aftermath of a mass shooting last year, when an FSU student killed two people and injured five others on campus.
“He handled a horrific situation on campus with the shooting with elegance and grace, and you could see the look on his face, how much that experience devastated him,” Cerio said. “We are privileged to have you at Florida State University.”
At the same meeting, the BOG also approved the $109 million acquisition of Tallahassee Memorial Healthcare, a hospital owned by the City of Tallahassee. McCullough has spearheaded the drive for FSU to acquire the hospital.
The money will be paid over 30 years with annual payments of $3.6 million with zero interest, said Kyle Clark, FSU’s senior vice president for finance and administration.
As part of the purchase, FSU is pledging to spend $1.7 billion on the hospital over 30 years, including $100 million in property upgrades and invest $150 million toward clinical faculty, laboratory resources, research and academic operations.
The FSU Board of Trustees approved the purchase of the hospital earlier on Thursday.
Included in the contract are accountability measures, Clark said, and the university would have the right to terminate the lease if any breach occurred.
“I want to congratulate you on a thoughtful and well-reasoned approach,” said board chairman Alan Levine. “You guys have done something here that is demonstrative of how a university would acquire a hospital.”
Board member Doug Broxson, a former state legislator, congratulated McCullough on the acquisition, which he called a “heavy lift.”
Broxson said when he first met McCollough, the president expressed concerns about the health care not only for Leon County residents, but also the counties surrounding it, which are some of the poorest in the state.
All four counties that border Leon – Wakulla, Liberty, Jefferson and Gadsden, are considered “fiscally constrained counties” in state law, eligible for state funding due to their struggle to raise money from property taxes.
“When we consider what you are doing today, it will not only rebrand the great brand of Florida State, but it will send a message about its commitment to the poorest among us,” Broxson said.
The details of McCullough’s contract extension, including compensation, will be finalized in August by the FSU Board of Trustees.
State law caps the public funds that can be used to pay university presidents’ salaries at $200,000, with the rest paid with non-public sources.
The most recent contract from August 2025 shows McCullough’s base salary as $1.25 million a year, and he also received a $500,000 bonus. His salary is one of the largest salaries among university presidents in the state.
FSU is currently ranked 21st among public higher education institutions by U.S. News & World Report.
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