play hard ball and fire him and not pay a dime
No, then you'd have to honor the full contract. A mutually-agreed upon buyout is the best resolution.
I'm not sure P5 programs are going to be falling all over a 67-year-old guy to coach. And how many P5 jobs will open that are a good fit for him?
LIke I said, Canisius would be a great fit. Low key, don't have to cheat in recruiting to be competitive at the MAAC/low-to-mid-major level, and I'd bet they would welcome PB as an assistant coach. Not as many perks as Michigan but seriously some of the benefits P5 coaches/players receive are absurd and could easily be done without.
He's familiar with WNY, still has family there, is a Canisius HOFer, and could easily get by on a $200K or so salary. Get back to where it all started and become a legend. I can't see him not coaching, it's what he does.