Jul 20th, 2009 | 1:47 pm |
The University of Iowa has extended the contract of Head Football Coach Kirk Ferentz for seven years.
His annual salary remains at $3.02 million. Under the new agreement, Ferentz will have access to private plane transportation for up to 35 hours of personal use annually. The estimated cost associated with this benefit could be as much as $85,000. As is the case with all expenses of the UI Athletics Department, no tax dollars will be used; the Department will pay for this benefit with contributions to the National I-Club.
“While we haven’t given him a raise the past three years and there isn’t one in the new agreement, access to a plane provides a form of compensation that recognizes the extreme time demands placed on him throughout the year. It’s a 24/7 job. This is one way to reduce some of the stress this position places on his personal and family life,” said Gary Barta, the UI’s director of athletics.
