Jon Gruden signs five-year extension to stay on MNF - NFL - Sporting News
According to this link, his new deal took effect last month and includes a provision that bars him from coaching in the NFL or college. If his deal is the 4.5 mil reported, than one of the UT boosters would be looking to pay ESPN around 20mil to get Gruden out of the deal before you could even talk salary with him. I also wonder if ESPN would let him go even for that amount; one MNF game is easily worth 20mil in revenue.
"According to the network press release, Gruden's extension, which goes into effect in September 2012, includes a provision that he will stay out of coaching through the new contract."