Bo wasn't a big name natioanlly before, during or after his tenure in Ann Arbor (Who's a whore btw). 2 Rose Bowl wins and 0 NC's in 21 years as a HC, that leaves alot to be desired. He's a known figure here because of his wars with Woody and in Ann Arbor (Still a whore) because he's their icon (which is kinda sad given he really didn't accomplish much).
That said, they can't hire an unproven coach after all this. It would be a big black eye for their already punch drunk program. Names like Mora, Miles, Stoops and Schiano will get offers if (when) Jimmy says no. None of them are getting to the playoffs with Urban in town, though neither is Jimmy.