The University of Iowa’s 10-point victory at the Orange Bowl and subsequent No. 7 ranking in the final USA Today Coaches Poll was worth big money to the Iowa football program.
Coach Kirk Ferentz received $500,000 in bonuses for this season, and his assistants’ bonuses and raises for next year totaled more than $750,000.
Here’s the breakdown:
Ferentz’s annual salary is $3.02 million. He also received a $225,000 bonus for finishing in the top 10, a $175,000 bonus for advancing to the Bowl Championship Series, $25,000 for earning the Big Ten Coach of the Year award and $75,000 for his team’s annual graduation rate exceeding 70 percent (it was the second-highest among BCS teams at 74 percent).
Ferentz could earn another $50,000 bonus if he’s named national coach of the year by one of several different entities.
Ferentz’s contract stipulates his nine football assistants, top two strength coaches and director of football operations receive a 13 percent raise for the 2011 fiscal year for finishing in the top 10. Those 12 personnel, plus the quality control administrator, receive a bonus equal to two months’ salary for advancing to a BCS bowl. The bonuses exceed $350,000 and the raises are $273,667 and will grow. Salary figures for the quality control administrator (Scott Southmayd) and director of football operations Paul Federici were not immediately available.
The above football personnel plus the equipment manager, football video coordinator, head football trainer and travel coordinator can share from a $125,000 bonus pool for finishing in the top 10.
Ferentz, his nine football assistants and top two strength coaches made $5.125 million in salary this year. But that pales to the money his football program generates annually. According to financial records Iowa provided to the NCAA, the football program generated more than $38.15 million in revenue (a $12 million profit) during fiscal year 2008. That doesn’t count the department’s $21 million in funding not classified under any specific sport.