Joey Barton made just five Scottish Premiership appearances for Rangers during Mark Warburton's time in charge of the Ibrox club.
Tottenham suffered a 1-0 loss to Manchester City on Monday night.
The Leeds United loanee is impressing his manager at Fleetwood Town.
Veteran Wallace left Wednesday this summer on a free transfer.
Ryan Taylor, Barton's old Newcastle United colleague, and Ross Wallace, most recently of Sheffield Wednesday, have been on trial at Fleetwood.
Sunderland are currently unbeaten in League One action so far this season.
Jack Ross' Sunderland welcome Joey Barton's Fleetwood Town to the Stadium of Light on Saturday.
Former Newcastle United midfielder Joey Barton will lead Fleetwood Town against Sunderland at the Stadium of Light on Saturday.
Fleetwood travel north to Sunderland ahead of Saturday's League One clash.
Rangers have put the pride back in the blue half of Glasgow.