Malcolm put on his playing boots and came out of retirement to play for Exeter City "A" team in the East Devon Senior Cup quarter-final against Budleigh Salterton and in the semi-final against Crediton towards the end of 1981/82 season.
At the time Malcolm was City’s coach/physio and was living in Torquay. After playing for West Ham United and Leyton Orient, he became old teammate Frank O’Farrell’s assistant manager at Manchester United between 1971 and 1972. When both were sacked Malcolm was soon appointed manager of Torquay United, a post previously held by O’Farrell.
Although his later work took him away Malcolm continued to live in South Devon and died in Torquay in 2007. O’Farrell was to live in the same town until his own death in 2022.