I'm having problems getting my head around this process. Surely if the board has decided to offer Choco another contract it is only the first step in reappointment. Williams would need time to consider the offer first because, as relapse has alluded, he might reject the offer. You can't reappoint a coach unless he has accepted the terms of the offer. It seems odd to make an announcement (leaked to the media or not) unless a deal has already been agreed to.
I would think that part of the process they have done would have been to figure out how much Choco would coach for so that they could compare it to other options.
No point going through the whole process and deciding to keep Choco if we cant afford him.