Former Rangers captain and manager Greig, who was one of the first inductees in 2004, is astonished that the man who led the club to two Trebles in three years and was an integral part of the 1972 European Cup Winners’ Cup triumph has been overlooked for so many years.
Greig said: “It seems remarkable to me that Big Jock has not been inducted into the Hall of Fame before now – it’s a huge oversight.
“When you analyse what he achieved it is amazing that he has been overlooked.
“Of course, he should be in there and he should have been in there long before now.
“On the 20th anniversary of his passing it would be very appropriate to put matters right and give Jock his rightful place in the game.”
Wallace won eight major honours in the space of five years, most notably the clean sweep of the League, League Cup and Scottish Cup in 1975-76 and 1977-78, having taken over from Willie Waddell for whom he had been an outstanding assistant.
He had ended Celtic’s dominance of the Championship by winning the !975 title – Rangers’ first for 11 years – having defeated their old rivals 3-2 in the epic Centenary Scottish Cup final two years earlier.
Wallace, left, fell out with Waddell over spending budget and his own salary and sensationally quit just 16 days after winning the Treble in 1978 but returned to Ibrox for a less successful second spell in 1983, which did include two League Cup successes. Wallace, who also managed Motherwell, Sevilla and Colchester, was diagnosed with Parkinson’s Disease in 1990. He died on 24 July, 1996.
Greig added: “Rangers enjoyed some of their greatest moments under Jock and I am privileged to have been his captain. We had a fantastic team in the 1970s. Two trebles in three seasons was exceptional and has never been emulated. That says it all for me.”