No team is getting a lower ROI in college football right now than Florida State.

The Athletic's Bruce Feldman reported Wednesday the Seminoles have a team NIL budget totaling $12 million. That investment so far has netted a 24-21 loss to Georgia Tech and a 28-13 defeat to Boston College.

The reigning ACC champions were 10th in the Associated Press preseason Top 25 poll and fell out of the ranking entirely for Week 2.

Last year's Orange Bowl offered head coach Mike Norvell a taste of the work ahead in the offseason. FSU was hammered 63-3 by Georgia after a number of key players either opted out or entered the transfer portal.

Norvell, who had a lot of success out of the portal in 2023, was aggressive in augmenting his roster and signed 17 new transfers.

For the most part, however, those new additions haven't worked out, and none has been a bigger disappointment than quarterback DJ Uiagalelei.

The third time hasn't been the charm for Uiagalelei, who was the No. 1 pro-style QB recruit in 2020 but failed to fulfill his potential at Clemson and then Oregon State. He has thrown for 465 yards, one touchdown and one interception while averaging 6.7 yards per attempt.

Given the arc of his college career, Uiagalelei's performance isn't totally surprising. Much more unexpected is the fact Florida State's allowing 226.5 yards per game on the ground and 5.1 yards per carry.

Marvin Jones Jr., Sione Lolohea, Tomiwa Durojaiye and Cam Riley transferred in to help a front seven that returned Patrick Payton, Joshua Farmer and DJ Lundy. Defense was supposed to be a strength for FSU despite losing Jared Verse, Braden Fiske and Renardo Green, all of whom were selected in the first two rounds off the 2024 NFL draft.

Instead, the Seminoles mounted little resistance against Georgia Tech or Boston College, neither of whom is projected to have an electrifying offense in 2024.

The fact the 12-team playoff allows for teams to have a larger margin for error might offer little solace to Florida State since it's already 0-2 in ACC play. The program's hopes of reaching the conference championship look dim.

Assuming he's unable to turn things around, Norvell will hope coming in well below expectations won't lead to major boosters and other donors think twice about contributing to FSU's NIL pool for next season and beyond.