Isn't the "big name" the one that he said had applied and would be a dream but might not be right for the club? To me that smacks of someone like Allardyce - would be an amazing move in terms of making people sit up and take notice but possibly not right for the club in that not only does he demand sky-high wages but comes with a similarly expensive entourage the size of which would make an eastern potentate blush!
But if it was he would have to cut his cloth according to this level, would not be able to earn as much as he would in a higher level and wouldn't need so many back room staff at this level either.
But to get round the wages part insert clauses into the contract dependant on things like league place, cup wins, attendances - there are incentives to build up a contract and it makes the manager a little bit more focused on aiming for 10th for example instead being happy with 14th.