National Service with the King's Own Scottish Borderers afforded Wallace the opportunity of signing for the local club, Berwick Rangers.
After character-defining military service in Northern Ireland and – famously – the jungles of Malaya,[5] Wallace's playing career extended to Airdrieonians, West Bromwich Albion, non-league Bedford Town and Hereford United.
In 1974–75, it was Wallace who presided over the Rangers team that finally ended Celtic's nine-year period of dominance and won the League championship for the first time in eleven years.
[7] In spite of capturing two League Cups, Wallace's second spell with Rangers was a frustrating one as the club failed to dent the dominance of the New Firm and offered only sporadic challenge to Celtic.
Arguably his primary achievement in that spell was supporting a young, unsure Ally McCoist who went on to lead the forward line in the club's successes some years later.
Wallace was a classic Scottish manager of the type familiar to modern fans in the guise of Sir Alex Ferguson, renowned for their ability to lose their temper and terrify players who were not trying their best.
Gary Lineker, who played under Wallace at Leicester City, is quoted as saying "[he] pinned me against the dressing room wall at half-time and called me a lazy English this and that.
"[8] Mark Warburton, who later went on to also manage Rangers, said of his time as a youth player at Leicester City, that he took a dislike to the training methods of Wallace,[9] later saying "he was a Marine.