I'm pretty sure stands for "Beasman" or "Beasley". I don't remember which. My 83 yr. old dad swears to this day it stands for
"Booger". 
One reason Ernie Grunfeld was always my favorite Vol was he could drive Joe B. and the UK fans insane. Particularly the night he scored 43 in Lexington in a comeback victory and "conveniently" took two foul shots when there might have been "some debate" among the officials and from the UK sideline in whether or not he or Vol Irv Chatman was the fouled player. Chatman at the time was maybe a 35-40% foul shooter and Grunfeld was probably 80-85%.
