IOWA CITY — Iowa football head coach Kirk Ferentz agreed to a contract extension that will last through the 2029 season, the athletics department announced Friday.
“Kirk’s consistent leadership and success over 23 years has been amazing and appreciated as he has led our football program in a first-class manner,” University of Iowa athletics director Gary Barta said in a news release.
Ferentz, 66 and already the longest-tenured college football coach in the country, will be 74 when the new contract ends.
If he does not retire before the end of the contract, he’d spend 31 years as head coach at Iowa and nine years as an assistant coach under Hayden Fry.
Ferentz “has led our football program with tremendous success and integrity, showcasing how athletics can be an enriching experience for our student-athletes and a corridor for many to learn about our remarkable university,” UI President Barbara Wilson said in the news release.
The total compensation will be $7 million per year — that includes his $500,000 base salary, a $1 million longevity bonus and $5.5 million in “supplemental compensation” — according to the news release. He will be eligible for performance-based bonuses.
Iowa would not have to pay the longevity bonus if it fired him without cause, but the rest of the salary is guaranteed.
Ferentz signed the contract Dec. 31, the day before Iowa’s 20-17 loss to Kentucky in the Citrus Bowl.
The contract also allocates a $7 million salary pool for Iowa’s 10 on-field assistant coaches and a $1.2 million salary for the head strength and conditioning coach and four assistant strength and conditioning coaches.
The extension will likely rebuff attempts from other schools to bring up retirement rumors as a way to recruit against Iowa.
“Everybody is going to talk about retirement,” Iowa football recruiting director Tyler Barnes said last month. “It's laughable. It is what it is.”
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Source : https://www.thegazette.com/hawkeye-football/kirk-ferentz-signs-extension-will-be-under-contract-through-2029/343