My info is second hand from the 'old boys club' donor side. There's two sides to every story and this is certainly biased.
But what I heard back on Wednesday was that Batt was set on Chadwell and worked out a tentative agreement with him/his agent. However, the GTAA is in extreme financial trouble. Especially after the buyout and poor ticket sales this season both in FB and MBB. In order to afford any coach, Batt needs donor commitments. Cabrera wants to help, but he's legally handcuffed on what he can directly do financially.
Anyway, certain major donor(s) who were inside the search recused themselves from the process over disagreements with Batt. Others were told to stay out of it and were/are playing power struggle games with Batt. Batt told them who's the boss now and to stay out of things unless asked, Bama-style. So, they are keeping their money out of it, but not their opinions.
After the Pitt game, Batt was in an untenable position. The donors were not ready to open their checkbooks for Chadwell without at least giving Key a fair shot - a real interview, seeing how the GA game played out. Chadwell and his agent were rightfully miffed that Batt was stringing them along and couldn't/wouldn't finalize the deal. It blew up on Batt this week.