Mislay man of title when tally fails? (4,5)

I believe the answer is:

lose count

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'title when tally fails?' is the definition.
I know nothing about this answer so I can't judge whether this works.

'mislay man' is the wordplay.
'mislay' becomes 'lose' (synonyms).
'man' becomes 'count' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'lose'+'count'='LOSE COUNT'

'of' is the link.

Can you help me to learn more?

I've seen this clue in the Sydney Morning Herald.

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