I believe Bud Black was on Theo's list as a candidate to replace Grady Little in 2003. I might have it wrong, but I seem to recall he turned down the opportunity to interview because he wanted to remain based on the west coast for family reasons (he was Angels pitching coach at the time). Of course, that was a dozen years ago so perhaps his circumstances have changed.
He might be a good candidate if the Sox decide to make a change next winter. I wouldn't count on him signing on anywhere prior to that, at least in a managerial capacity.