Yes, I think so.So do you think he left because he wanted out? Since the money was a lateral move.
I just put up a long post on the Cards board on this subject. In summary, being OC for guys like CBP, Dana Holgerson, Keith Sumlin, et. al. is really different than most OC jobs. The bottom line at these places is the HC is the de facto OC; as OC you "help him out" but you don't get to develop/operate your own scheme and call your own plays. You may learn a lot by working for an offensive guru but your "role" is limited. And that, IMO, limits your resume as you try to climb the coaching ladder.
And given the HUGE disparity between his salary and the other staff salaries (except for Grantham but that is another issue entire, e.g., Grantham runs the scheme and calls all the shots on defense) I don't think UofL was in a position to say: "Here's another $250K; we need you here".
Counting AR, this was his 4th year as "Assistant OC" under CBP. It was probably time for him too move on, especially since he is getting the same salary he was being paid at UofL (i.e., a top 20 assistant salary). Unless, of course, he wanted to stay here and do less and hope it translated into another HC job somewhere.
Peace