5 months ago most of us were sure Herrion was going to lead us to the tournament, beat Memphis for the CUSA crown, possibly a Top 25 team, and we were pretty sure an ACC or Big East school would come snatch up him in March/April 2013. At the time it looked like a smart investment, add ONE year to his deal, which would've been an extra $250k or so he'd have to pay to leave for a school like that. Looking at our results this year on the court, you can say it wasn't needed.
At the time it looked like a wise decision, hindsight it wasn't a wise decision.
When you're sitting in the AD seat, at any school, you have to make decisions on the fly, you don't get the benefit of 20/20 hindsight when making decisions.