Lots of joy, oodles of cash

The University of Iowa's No. 7 ranking in the final polls is worth big money to personnel in the school's football program.

Bonuses and raises for Coach Kirk Ferentz, his nine on-field assistants and other football personnel will top more than $1.25 million, according to Ferentz's contract and financial records provided The Gazette via the Freedom of Information Act.

Ferentz, whose annual salary is $3.02 million, will receive $500,000 in bonuses for leading the team to its best ranking in 50 years. Iowa finished seventh in both primary polls released after Thursday's BCS Championship Game.

The school bases its football bonus structure on the final USA Today/Coaches Poll. Ferentz received a $225,000 bonus for finishing in the top 10, a $175,000 bonus for advancing to the Bowl Championship Series, $25,000 for earning the Big Ten Coach of the Year award and $75,000 for his team's annual graduation rate exceeding 70 percent (second-highest among BCS teams at 74 percent).

Ferentz could earn another $50,000 if he's named national coach of the year by one of several organizations.

Ferentz's seven-year contract completed in July stipulates that his nine assistants, top two strength coaches and director of football operations receive a 13 percent raise for the 2011 fiscal year for finishing in the top 10. Those 12 and the quality control administrator receive a bonus equal to two months' salary for advancing to a BCS bowl. The bonuses exceed $350,000 and the raises are $273,667 based on available salary records. Figures for quality control administrator Scott Southmayd and director of football operations Paul Federici were not available.

The school allocated a $125,000 bonus pool shared among the above football personnel and the equipment manager, football video coordinator, head football trainer and travel coordinator for finishing in the top 10.

Ferentz, his nine assistants and top two strength coaches made $5.125 million in salary this year. But that pales in comparison to the money the football program generates. According to financial records Iowa provided to the NCAA, the football program exclusively generated more than $38.15 million in revenue (a $12 million profit) during fiscal year 2008. That doesn't count the department's $21 million in funding not classified by any specific sport, much of which is classified as non-specific donations.