The details of new Iowa State athletics director Jared Benko's contract have been released.
Benko, who was formally introduced as the university's new AD in an Oct. 19 press conference, arrived in Ames with nearly two decades of experience working in collegiate athletics. The Georgia native worked primarily at Southeastern Conference schools in various administrative and leadership roles, with stops at Auburn, Mississippi State, Arkansas and Georgia.
He was most recently the executive deputy athletics director at Auburn, where he was responsible for working with NIL, revenue generation, among other duties surrounding daily operations of a $228 million athletics department. Benko was also previously an athletics director at Georgia Southern from 2020-24.
The new contract, obtained through an open-records request, was signed and dated by Benko and university president Dr. David Cook on Oct. 16, and it will go into effect on Oct. 30, the date when Benko will officially take office.
Here is a look at the terms of Benko's contract:
Iowa State athletics director Jared Benko's salary
Benko signed a five-year deal that runs through June 30, 2031.
The deal starts with Benko receiving $900,000 in base salary in his first year. This figure is on par with former athletics director and predecessor Jamie Pollard, who signed an extension in 2025 that bumped his salary to $900,000 from $875,000.
Benko's salary will increase each year, maxing out at $1.15 million in the fifth and final year of the contract. The annual salaries will increase as follows:
- Oct. 30, 2026-June 30, 2027: $900,000
- July 1, 2027-June 30, 2028: $950,000
- July 1, 2028-June 30, 2029: $1,025,000
- July 1, 2029-June 30, 2030: $1,100,000
- July 1, 2030-June 30, 2031: $1,150,000
Iowa State athletics director Jared Benko's buyout
Benko's buyout amount is dependent on which year of his contract that he's in.
If Benko terminates his contract in his first year, he would owe the university 100% of his remaining base compensation for the remainder of the deal.
If a buyout is activated in the second or third year, that percentage drops to 75% of the remaining salary left on the contract. In the fourth year, it drops to 50% of the salary left on the deal. If in the fifth and final year, Benko would be required to pay 100% of the remaining salary left.
In turn, if Benko is fired without cause, the university would owe Benko identical percentages of the rest of the remaining base salary on the contract depending on which year the termination happens.
Eugene Rapay covers Iowa State athletics for the Des Moines Register. Contact Eugene at erapay@gannett.com. Follow him on Twitter at @erapay5.
This article originally appeared on Des Moines Register: See contract details for new Iowa State athletics director Jared Benko