Wallace appeared on Rangers' in-house internet TV channel to discuss details of a three-year arrangement with 32Red.com and, while failing to address issues such as Dave King's plea to supporters to place season ticket money into a trust rather than forward it to the club, stated his firm belief this confirms the club is moving in the right direction.
Ally McCoist has revealed that he has been unable to make progress with summer signing plans as he is unaware of the spending budget and the fact remains that there is no scouting system in place, but Wallace has assured concerned supporters that those within the powerbase have a strategy in place to meet the challenges of next season's Championship and beyond.
"This is a good, long-term deal for Rangers," said Wallace, who will reveal the details of his four-month business review on April 25. "I think it shows that, off the field, we are making substantial progress,"
"Work commenced several months ago as part of looking at every area of our club operations - not just looking at where we are spending the money, but where we are generating it. We are delighted to have secured 32Red as an official club partner.
"I think it gives us a real platform of stability. It allows us to leverage the strength of their brand in partnership with the strong Rangers brand that we are looking to re-energise and reinvigorate nationally and internationally.
"Rangers is a fantastic worldwide brand and we are looking very hard at how we can reposition it on the international stage. That goes hand-in-hand with the club's progression up the leagues. We are now planning for the Championship with one eye very firmly on the seasons beyond that.
"Attracting blue-chip brands to be partners with the football club allows us to grow our commercial revenue, which, in turn, allows us to reinvest right across the business. We are very pleased, indeed, with a first tangible step in our new commercial strategy."