(30 Jul 2015, 7:57 pm)S813 FVK wrote What was the actual reason for him gaining that name? Was it just because he failed to get England into Euro 2008? I know that's how his time managing England ended.

Effectively yes, but the actual name came from The Daily Mail newspaper if I remember correctly when they took a photo of him with his brolly and came up with the headline "Wally With A Brolly"