Three months after agreeing to terms on a new seven-year contract, Iowa head coach Kirk Ferentz signed on the dotted line last week, the school announced today in a press release.
The new deal runs through the 2015 season.
“It has been said many times before and I’m pleased to say it again: Kirk Ferentz is a perfect fit for the University of Iowa, the community, and the state. He’s considered one of the best football coaches in the country, he has incredible integrity, he cares deeply about our University and our state, and he’s a proven winner at Iowa,” Hawkeyes athletic director Gary Barta said in a statement.
While the new contract will not include a pay increase, the press release noted that Ferentz will have the use of a private jet for up to 35 hours annually. The estimated cost associated with this benefit, the statement reads, could be as much as $85,000.
“Kirk is well compensated. He’s earned that opportunity, but he’s also greatly appreciative,” said Barta. “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 the position places on his personal and family life.”
Ferentz is entering his 20th season at Iowa, with 11 of those years spent as the head coach.
The 53-year-old coach has a career record of 82-74, including a 4-3 bowl record.
