The Z97 GD45 is a good overclock board, but you can overclock with any Z97 board, some might just let you overclock a little better and/or easier.
So the MSI Z97 GD45 or the MSI Z97 Gaming 5, the Gaming 5 is essentaly just with a little less features than the Gaming 7, like 2 ports for storage less and less USB 3.0 on the I/O. But the board should be quite cheaper (around GD45 pricing).
If he wants something in your pricerange, he could get a ASUS Sabertooth Z97, though i don't think he should need anymore than the Gaming 5/GD45.
But it also really depends on his setup, though i don't think you'll fall short with the GD45/Gaming 5 anywhere.
I myself use a more expensive board, but only because the VI HERO board is amazing, i knew i had a H100i cooler to overclock on and because i got the i5 for cheap, so i had some extra budget that i didn't need anywhere else.