Stadiums are often renamed in many sports. Perhaps you meant Texas high school football, which is perceived to be sacred and pure. In this day and age of Facebook news cycles, meandering loyalties, and corporate sponsorships, there should be no worries with renaming "Old Abe" for Coach Outlaw. Just be warned that you are setting a precedent, and that when the next coach comes in (preferably Todd Quick) and provides the Pack with two state championships (preferably by 2015), the stadium is apt to be renamed again.
One wonders if Coach Outlaw would want the stadium renamed. The man seemed so humble in every aspect of his life that having the stadium renamed for him seems out of character. But I really did not know the man.
Instead of stadium name changes and statues, I might suggest a simple O on the back of the Purple helmets this year to honor the coach, and nothing else. No Pack logo for one year.