Meanwhile, the Longhorns continue to prepare for a stout Oregon team in Brown's last game as coach in Monday's Valero Alamo Bowl.
"You have assistant coaches that are getting résumés out and seniors that had the wind taken out from under them a few weeks ago in the Baylor loss," said Wallace. "You have a head coach in his last game and underclassmen, many that came to play for him, wondering what is going to happen and no doubt being pulled in a lot of different directions."
Wallace was asked about any discussion regarding Mike Gundy being a candidate for the Texas job.
"Yeah, and I think that would be received with some enthusiasm but I don't think it would be perceived as a grand-slam pick," Wallace theorized. "He's had success against Texas the past few years and recruits Texas well, but again, the arrogance of Texas thinking we had better than that the past few years, Mack had a pretty good run against Oklahoma State at one time.
"It would be a nice pick in some respects because of the offense and the way he develops his quarterbacks and that has been such a problem here. I would be curious to see how a guy like Gundy would be received because they set themselves up so much for a grand-slam pick because of all the (Nick) Saban talk."
Wallace said there have been no leaks lately with information tightened up coming out of the University. Wallace believes that is a good thing. The question is, who are the grand slams out there?
"I think (Gus) Malzahn would be received as a lack of experience as he has only been doing it one year at Arkansas State and now one year at Auburn, so no on him," Wallace surmised. "David Shaw would be a grand slam or at least a three-run homer.
"Jim Harbaugh of the (San Francisco) 49ers is a grand slam and I think Mike Tomlin of the (Pittsburgh) Steelers would be looked at the same way. The name I'm dancing around a lot is James Franklin but that is a guy that is a seven- or eight-win guy and can he transform that at a place where is under the microscope.
"I still look at Saban, and until someone else takes the job and isn't Nick Saban then I am going to think he could take it."
Wallace said that with recruiting on hiatus until Jan. 15 the urgency to getting this hire now is not there right now.