Iain McColl runs the popular tours which retrace the steps of Rangers’ Founding Fathers along with fellow Light Blues fan Gordon Bell.
The two spend much of their time researching the club’s origins and have done a lot to highlight the importance of Vallance’s contribution in the early years.
They felt it was fitting to commission artist Helen Runciman to produce a new piece recognising the former Gers captain and president.
It was unveiled during the most recent Founders Trail on August 19 and the framed image now hangs at the top of the Marble Staircase next to the Members’ Club.
Sitting alongside it is another Runciman exhibit showing the men who formed Rangers in 1872, Moses McNeil, his brother Peter, William McBeath and Peter Campbell.
Curiously, it seems a painting by Vallance has been discovered just as the new piece of him is seen by the public for the first time.
The artwork of a dog carries the signature ‘T Vallance’ and was found at the home of a woman whose father’s funeral had been attended by legendary Ibrox coach Bill Struth.
McColl believes that is anything but coincidental and explained: “We were recently approached by a supporter called Dougie Campbell whose mum had the painting at home.
“As well as having his restaurant business and being club president, we knew Tom was an accomplished artist and we believe there are a number of paintings by him out there.
“We’re now appealing for more information using a photograph of the painting and we’re hoping to confirm this one is by Tom as soon as we can.
“If we could do that around the same time as Helen’s new painting of Tom goes on show at Ibrox, it would give us a lovely little link.
“In our research over the last few years, Tom’s name constantly jumped out at us and we thought it would be a nice touch to have him immortalised on canvas.
“He was a steadying hand in the early 1880s, when the club encountered financial problems, and in his role as president he guided Rangers through a traumatic period.
“Now his picture sits alongside the Founding Fathers and they all competed against each other in the Gairlochead Games as early as 1867 or 1868. They were a band of brothers.
“We’re absolutely delighted with that. We’ve reunited Tom with his friends on canvas and we feel he has rightly taken his place at the top of the Marble Staircase.”
If you would like to buy an A3 print of the new Vallance painting by Helen Runciman at a price of £100, visit www.grailpr.com/sportingart.
There is a limited run of 72 prints available and a percentage of the proceeds will go towards the club’s youth development programme.