CONTACT: MARK SCHANTZ
120 Jessup Hall
Iowa City IA 52242
Release: July 24, 2002
EDITOR'S NOTE: Copies of the Bowlsby and Ferentz contracts are available
at the University Relations Office (319-335-0552). Kirk Ferentz will be unavailable
today (Wednesday). He will be available, to members of the media, at mid-morning
tomorrow in Chicago at the Big Ten Kickoff festivities. Check with Phil Haddy
Ferentz and Bowlsby contracts extended
University of Iowa has extended the contracts of Head Football Coach Kirk
Ferentz (left, in photo) and Athletic Director Bob Bowlsby (right, in photo).
Both have signed long-term contracts with the university. Tax dollars are
not being used to fund either salary.
Ferentz's contract has been extended five years, through June 30, 2009.
The new contract calls for an increase in base compensation to $510,000 per
year. The total compensation with other athletic-related, outside income is
estimated to be $910,000 per year. Ferentz' total compensation package for
the past year was approximately $595,000. The new contract will put Ferentz
in the middle third of Big Ten coaches' compensation packages.
The contract also calls for a variety of academic and competition incentives.
The largest incentives in the agreement involve combined, multiple-year excellence
in achievement by Ferentz's team, both on the playing field and in the classroom.
Bowlsby's contract has been extended six years, through June 30, 2008. Key
provisions in the contract call for a base salary of $345,000 with the opportunity
to earn performance and longevity incentive bonuses. The incentives in the
contract are intended, according to University General Counsel Mark E. Schantz,
"to reinforce Bob's outstanding record in supporting competitive teams
within a framework of academic values, rules compliance and gender equity."
"I feel very good about extending the contracts of these two very valuable
University of Iowa employees," said UI President Mary Sue Coleman. "Both
have represented the university and student athletes in a manner we can all
be proud of."
"Kirk has done a tremendous job for our university," said Bowlsby.
"He possesses the appropriate values and priorities for intercollegiate
athletics. I believe he will provide exemplary leadership for our program
in the years ahead. Our football team has made significant progress in the
last three years and we are excited about the future."
Ferentz had the following statement regarding his new contract:
"I consider it an honor to be a coach at The University of Iowa and
I deeply appreciate the university extending my agreement. Bob Bowlsby, Mark
Schantz and President Coleman have been very supportive of our efforts. I
feel extremely fortunate to be at Iowa and I am very excited about the future
of our program."
Ferentz led the Hawkeyes to a 7-5 record last season and a victory over
Texas Tech in the Alamo Bowl. He is entering his fourth season with the Hawkeyes
after a lengthy, and successful, stint as an assistant coach in the NFL.
Bowlsby is beginning his 12th year as athletic director at the University
of Iowa. The Business Sports Journal recently named him Athletic Director
of the Year. And, the National Association of Athletic Directors (NACDA) recently
named him regional AD of the year.