The Ferentz Extension and the Economics of Iowa Athletics

For anyone who was questioning Captain Kirk's salary in the wake of his most recent contract extension, read Scott Dochterman's most recent post:

"Over the last four years, Iowa’s football program has been a cash-generating machine for the athletics department. In fiscal years 2005 through 2008, the football program directly earned more than $55.3 million.

In 2008, the program’s expenses totaled more than $26.1 million, netting nearly a $11.9 million profit. That nearly equaled the total revenue generated by all other athletics programs combined.  Iowa’s next most-profitable sport, men’s basketball, generated about $9.2 million for a $3.8 million profit after expenses."

That's right: Football generated as much in profits as all the other programs generated in revenue.  Take it from someone who was there for the transition years; it hasn't always been like that.  Iowa Football is not only the most profitable aspect of Iowa athletics; it's the only thing keeping the athletic department afloat.  And football's continued profitability is only going to be more important next year, with basketball revenues tanking. 

If you want the athletics department gutted, with programs like baseball and tennis thrown overboard, then keep complaining about Ferentz's salary.  But for those of us who take pride in supporting an athletics program that doesn't resemble Iowa State, that $2.8M isn't too much.  Hell, it's a bargain at twice the price.

X
Log In Sign Up

forgot?
Log In Sign Up

Forgot password?

We'll email you a reset link.

If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.

Forgot password?

Try another email?

Almost done,

Join Black Heart Gold Pants

You must be a member of Black Heart Gold Pants to participate.

We have our own Community Guidelines at Black Heart Gold Pants. You should read them.

Join Black Heart Gold Pants

You must be a member of Black Heart Gold Pants to participate.

We have our own Community Guidelines at Black Heart Gold Pants. You should read them.

Spinner

Authenticating

Great!

Choose an available username to complete sign up.

In order to provide our users with a better overall experience, we ask for more information from Facebook when using it to login so that we can learn more about our audience and provide you with the best possible experience. We do not store specific user data and the sharing of it is not required to login with Facebook.

tracking_pixel_9347_tracker