Hawkeyes athletic director Gary Barta announced the move on Wednesday, which will sideline McCaffery for upcoming games against Rutgers and Wisconsin. The Big Ten says it supports McCaffery's suspension, and it tacked on a $10,000 fine for the university along with a public reprimand.
Barta called McCaffery's comments "unacceptable," adding that they didn't represent the values of the school.
McCaffery is in his ninth season at Iowa. The Hawkeyes, who were ranked 22nd in Monday's poll, have three regular season games left.