Iowa Hawkeyes coach Kirk Ferentz hits $500,000 bonus with eighth win of regular season
When Iowa took out Illinois 19-10 at home on Saturday, the team secured its eighth win of the season.
And if Hawkeyes coach Kirk Ferentz cracked a rare smile, it might have to do with the extra half-million bucks heading his way. Ferentz's contract, rewritten in 2016 after the Hawkeyes went 12-0 and made the Ros, states that the team's eighth regular season win triggers a $500,000 bonus for the 64-year-old.
It is one of the largest lump-sum bonuses for a single on-field achievement that can be attained during the regular season
Ferentz was already assured of at least $100,000 for a bowl appearance, which Iowa guaranteed with its sixth win on Oct. 26 at Northwestern.
Ferentz has now hit the $500,000 bonus in each of the four seasons it has been available to him. As a result, in the past three seasons, he has picked up a combined total of $2,025,000 in bonuses ($600,000 in 2016, $600,000 in 2017 and $825,000 last season).
Ferentz's basic annual pay from the school this season is $4.8 million, which ranks 18th nationally according to the Paste BN Sports coaches' salaries database.
Contributing: Steve Berkowitz