Iowa's Ferentz signs 7-year deal

Iowa Hawkeyes coach Kirk Ferentz has signed his contract with the school after verbally agreeing to a seven-year deal back in February.

Ferentz, who is locked up through the 2015 season, signed the contract last week, according to the school.

He enters his 11th season as the Hawkeyes' head coach and is the Big Ten's second-longest tenured coach behind Penn State's Joe Paterno. His previous extension with Iowa, from November 2004, ran through June 2012.

Ferentz's salary and bonus structure does not change in the new contract, and he will continue to earn an annual salary of $3.02 million.

The new agreement gives Ferentz access to a private plane for up to 35 hours of personal use per year. The plane usage could cost as much as $85,000, all of which would come from contributions to Iowa's I-Club booster organizations.

"Kirk is well compensated," Iowa athletic director Gary Barta said in a statement. "He's earned that opportunity, but he's also greatly appreciative. While we haven't given him a raise the past three years and there isn't one in the new agreement.

"Access to a plane provides a form of compensation that recognizes the extreme time demands placed on him throughout the year. Its a 24-7 job. This is one way to reduce some of the stress the position places on his personal and family life."

Ferentz owns a 70-53 record at Iowa, including a 66-35 mark during the last eight seasons. The Hawkeyes come off a victory in the Outback Bowl.

Adam Rittenberg covers Big Ten football for ESPN.com. He can be reached at espnritt@gmail.com.