I totally agree, and I would have paid that sunk cost after the back to back losing season of 18 and 19. But you are assuming the school cares about athletics, cause if they did - they would have paid it already.
Instead - I think what is more likely to happen - just let him ride out his current contract. But we will dig ourselves a deeper hole as recruiting will suffer, assistants will abandon ship to find their next job and the cupboard will be extremely bare for the next coach. Not to mention - I think you send the message you don't care to the next coach, and therefore, some possible candidates will not what to consider UR. They will fear administration is not invested enough to win and get them to the next level - which I think might be correct.