There's a whole sloppy thread about how to get into the Group of Twelve with three losses. Yes, it's possible, albeit with extremely low probability.
The point here is being ready to play after - let's see: 8 months, two weeks, and two weeks - of time to actually get ready. We weren't, all three times.
The stories of personal problems, rehab(s), benders would seem to explain the lack of preparation. If true, it seems entirely reasonable to suppose that CDC has kompromat on Sarkisian sufficient to cover "for cause" firing, if it comes to that.
My thought is that Del Conte believes reasonably-sober Steve can helm a winning program, and that he believes Steve can manage his problems. I agree that it's possible, and I think CDC and Sark have had that come-to-Jesus talk, and that it led to a list of achievements required... what we're seeing right now, with Sark advocating tirelessly for that CFP slot, is the result of that meeting and those trquirements.
Here's hoping it all works out for all concerned... including us.