The Iowa Hawkeyes have given longtime coach Kirk Ferentz a six-year contract extension and raise through the 2025 season, the school announced Tuesday.
Ferentz, 61, will make $4.5 million per season under the new extension, which the school said runs through Jan. 31, 2026. He had been paid a little more than $4 million annually under his old agreement.
The buyout on Ferentz's previous deal, which guaranteed him 75 percent of the guaranteed pay remaining on the contract if Iowa fired him, was heavily criticized by Hawkeyes fans and others. The new contract changes the buyout structure but is still hefty, according to the Cedar Rapids Gazette.
Under the new deal, if Iowa were to fire Ferentz for reasons other than a scandal or physical incapacity, he would be owed 100 percent of his guaranteed money in 2016 and 2017 and 75 percent of it between 2018 and 2020. For each of the years from 2021 to 2025, Iowa would owe him 50 percent of his salary. For each year between 2016 and 2020 that the Hawkeyes win at least seven games, one of the years from 2021-2026 would convert to a 100 percent buyout.
Read More: http://www.espn.com/college-football...extension-2025