IF UT has Gruden
UT doesn't "have" Gruden. In fact, it's quite the opposite. However, desperate times call for desperate measures. And, enough money can buy anything.
UT could absolutely make another move for Gruden..but they literally would have to set an entire new market for a college coach.
The bottom line is that Tennessee hasn't offered enough money to the candidates for the job. Whoever is the next target needs an offer they can't refuse. If it's Gruden, break the bank. If it's a Charlie Strong/Gundy/Fisher type, then make them the top paid coach in college football.
Tennessee has made it's bed. It will need to pay a premium for its next coach...or else decide to make a Dooley type hire and try again in 3 years.