The University of Iowa is extending the contracts and giving raises to athletic director Bob Bowlsby and head football coach Kirk Ferentz.Ferentz’s contract has been extended five years through 2009. His pay has been substantially increased from 595-thousand dollars a year to 910-thousand. That includes a base salary of 510-thousand dollars with outside income of 400-thousand. Ferentz was rewarded after leading Iowa to a 7-5 season and a bowl victory last season. Bowlsby’s contract as A-D has been extended six years through June of 2008. He’ll make a salary of 345-thousand dollars a year. Bowlsby, in his 12th year at Iowa, had been paid 332-thousand-908 dollars. U-of-I President Mary Sue Coleman release a statement saying she feels good about extending the contracts of two very valuable university employees. The release also