This is all hypothetical, but here's my take....
Wilson is an interim chancellor. She has extensive experience on the academic side and is well qualified for that role. She is not, contrary to what some posters on this board state, an idiot. However, she is not versed in the athletic side of a University. Why would she be? She has been in academic administration running the LAS school. And, apparently, doing a good job of it.
Since she is not familiar with that part of the business, she needs to turn to people who are. She wasn't involved in the decision to fire Beckman. Wise was Chancellor then and apparently intended to keep Thomas. The people she believed she could trust on the issue (probably influential boosters) probably convinced her that Thomas should be fired and that there was a superstar replacement who was ready to jump into the job. So she trusted those people and acted on it.
Those people were wrong. (Those are the people to blame for this situation, by the way. They may be boosters or others at the University, but they are the ones who screwed this all up.)
Had those people been right, we would be in great shape. But they weren't. If Wise's plan had been stuck to, we would be OK. Thomas would still be AD and he would be hiring a new coach.
Anyway, the decision was made to shift from the keep Thomas plan to the new AD plan. It would have been a great idea if the quick AD hire that was expected was actually available and interested. (Again, the blame for this rests squarely on whoever determined that this was the case.)
On this board, there have been several names mentioned. Only one was universally agreed to be a great hire and he is not interested. All the other names brought up have been shot down by people on this board. My point is that there is no clear cut second choice. Or maybe there was, but he might want to stay in Australia.
Wilson has now been burned by whoever advised her before. Because she is NOT stupid, she knows that she doesn't have the background to make an AD hire on her own. She also knows that the people she trusted before may not be as knowledgeable as they say they are. So she needs advisors. More to the point, she needs different advisors. All of this means that she sees the best thing to do an the AD hire is to slow down and do it correctly. It's not going to wait for a chancellor hire, but it's not going to happen in a couple weeks either.
So, given that there is no AD in place, what to do about a football coach?
She can:
Fire Cubit and hire a coach herself, which she knows she is not qualified to do.
Fire Cubit and let the interim AD make the hire. (The same interim AD who just said on the radio that it's not "ideal." Seriously? True or not, saying that publicly?)
Or keep Cubit.
At that point, keeping Cubit was probably the best option.
So then, how do you commit to Cubit without committing to Cubit? Here the problem is the contract details. They probably should have gone three years. But everyone coming in is going to know he is on the hot seat next year anyway. You could give him a ten year contract, but everyone knows he was hired because there wasn't an AD in place.
It all comes back to the timing of Thomas' firing. I think she was led to believe that there was a new AD ready to come on board immediately. If you want to blame someone, figure out who that was.