$2.7 million a year!

[BryceC]

<div class='quotetop'>QUOTE(CyLyte @ Jun 5 2006, 02:23 PM) [post=3702]Quoted post[/post]</div><div class='quotemain'>
Lot of coin no doubt but Iowa will only be saddled with it for one year.
[/b][/quote]

Why is that? People have been speculating that Ferentz is leaving for the NFL every year for a couple now. I don't see how this year is any different.

 

[CrossCyed]

The basic elements added to the current contract include:

1) One-time payment of $1.4 million which is payable immediately.

2) Quarterly payments of $350,000, payable September 30, October 30, March 30, and June 30 each year. This compensation is in addition to that payable under the past contract and some or all of this compensation may be deferred.

3) Amendments to termination clauses which provide guaranteed payments in the event the University cancels the contract without appropriate cause.

 

[CrossCyed]

If I read this right, Ferenzt makes 2.8 or so in 2006 and 1.4 every year after.

 

[jpete24]

This is a case of people mad at people that make money. He obviously has done something right in life to be coaching football and making several million now. I don't think anybody here would ever turn down 1.5 million from there company they work for or any raise in that matter. He already has stated that he will be giving alot back to the community and the university.

 

[Schroed]

<div class='quotetop'>QUOTE(MNclone @ Jun 3 2006, 10:09 PM) [post=3610]Quoted post[/post]</div><div class='quotemain'> the idea of getting paid 2.7 million a year is beyond my comprehension. Especially considering he is developing kids to play a game. Another sad indicator of the messed up financial priorities of our society.

[/b][/quote]



Fans like you and I are the reasons that coaches, athletes, and entertainers get paid so much. We spend so much supporting them by going to games, movies, etc... He is one of the main reasons the athletic budget at Iowa is so high compared to ours. The fb team brings in more per game for the athletic program than his yearly salary so I say it is just fine.

 

[clone33]

I have no beef on Ferentz whatsoever, he is a great coach, as much as i hate the hawks, i have to believe that because i look at what he had to start out with. No matter how much we think the hawks are overrated, Kirk Ferentz has brought them so far in his tenure. I respect him for that. But no matter how good of a coach i think he is, HE WILL GET DESTROYED IN SEPTEMBER!!!!!