Since there isn't a new AD, this is all speculative. In other words, just one girl's opinion... nothing more, nothing less.
1) Mike has worked for, and has earned the job. Twenty years in the trenches of recruiting, training, mentoring, babysitting, being away from his family, building relationships, giving his all to Syracuse University. It is not just a question of "loyalty;" it's a question of all the productive, successful, hard work he has given to the school.
2) He's one of the most respected and well-liked assistant coaches in America; his name appears on every such list. He has received way more "feelers" from other schools than have been reported in the media ... because he has said "no" before they could advance to a public discussion stage.
3) He is an amazing recruiter and mentor. Kids love him; their parents love him. He has established relationships up and down the east coast. He has the respect of everyone he meets. For example, the relationships he developed with Hakim Warrick's mother and GMac's parents are classic examples of this.
4) He is a combination of the best of Jim Boeheim (basketball knowledge, respect from peers, commitment to SU, ability to recruit and develop players, etc) ... and the things some here would like to see done a bit differently (warm and fuzzy with the media, perceived openness to new ideas and change, great skill with all forms of new media, etc).
5) In spite of many opportunities to go elsewhere to run his own show and provide better for his family, he has stayed at Syracuse because of loyalty and promises made to him. Yes, let's assume there is a contract.
As I said, this is just one girl's opinion (because I am entitled to one)... and please do not read anything more or less into it... but I feel very strongly about this.