Like I said, he turned down more money last year at Memphis and Georgia. I believe both of those offers were well over $2 million. Now, there's a big difference between a $400,000 raise and a $1.8 million raise (not sure if those are exact, but somewhere in the ballpark), but I don't think the money alone will be enough.
Regarding MU's ability to raise the money, I don't know. There is... or at least was... a lot of Wal-Mart money at Mizzou (Stan Kroenke and Bill Laurie). But they may not be donating like they used to. I've heard both ways. I don't think they're real fond of Mike Alden, so their money may not really flow again until he leaves (Quin was Bill Laurie's hand-picked coach).
If Anderson does get a raise, the buyout will almost have to go way up. This is two years in a row that other programs have made serious runs at Anderson that we just can't match dollar for dollar, and there's a good chance Arkansas will do it a year from now, too. It's great to have a coach so many teams want, but it sucks having to up his pay every year to keep him.
A lot of MU fans are freaking out at the silence. I'm still pretty confident he's going nowhere... If I had to guess, I'd say he's holding off on official denial until he has a chance to discuss it with his wife. You don't turn down that kind of raise without discussing it with your family first.