[3][4] Born in Preston, Lancashire, Walsh won the 1984–85 Freight Rover Trophy with Wigan before following Bryan Hamilton to Leicester for £100,000, where he soon established himself as a no-nonsense central defender.

In 1993–94 he scored twice as Leicester won the final and promotion to the Premier League over Derby County, having missed much of that season due to a cruciate knee ligament injury.

Injury kept him out for most of the top flight season, but was returned to the captaincy by Martin O'Neill for the 1995–96 play-off final victory over Crystal Palace, a position he retained for the successful 1996–97 season, lifting the League Cup at Hillsborough having set up Emile Heskey's goal in the first game and Steve Claridge's winner in the replay.

Walsh made an unsuccessful attempt to become the new manager of Leicester City when Gary Megson vacated the position in October 2007.

[8] Walsh runs a company with former rugby player Neil Back and regularly attends home games at the King Power Stadium, and is often a guest during the half-time shows.