Scott took to video to explain a rather peculiar nuance in Kirk Ferentz’ new extension.
As we all know, yesterday Iowa announced a new ten year contract for Coach Ferentz. Now in his eighteenth season at the helm at Iowa, Coach Ferentz will be 70 at the end of this new contract.
Coach Ferentz is Iowa Football. A 10 year deal makes perfect sense; but the structure, and the embedded trigger for that structure sure are puzzling. Is seven wins really a good season at Iowa?
From ESPN’s analysis of the new contract:
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.