I've heard Olsen doesn't have an interest in the collegiate game specifically because of the time that's needed to spend on recruiting. Given, his children were younger then, but if he can still find NFL jobs, I expect he'll stay there.
Let's be honest, though. This isn't about how much Bobinski is willing to pay. This is about what coach is willing to put their career on the line to come coach here. It's the Turner Gill effect. You put together a good season at a lower tier school as an up and comer, find yourself in a historically terrible program, fail miserably, and find yourself back in the doldrums of coaching never to be heard from again. If a guy like Fleck gets better offers, he's gone. If an established guy like Miles ends up at Purdue, it's because no one else wanted him. Somewhere in the middle is a coach not many people are looking at or is considered to be a high risk, but has the pedigree to build something great. That is who Purdue will be looking at.