The former Leicester captain, 37, is on a pay-as-you-play deal at Highfield Road but his legs looked weary against Watford, and Coventry are set to dispense with his services after just two matches.
Gary McAllister, the City boss, did not put the blame of defeat solely at the hands of Walsh, declaring: "It was not one man. We defended poorly as a team."
The veteran defender insists he is still part of McAllister's plans, but a thigh strain is set to sideline him this weekend.
Walsh is keen to prove himself but is available for a move as he has yet to sign any deal with The Sky Blues.
He plied his trade for Dr Martens League side Tamworth for most of last season and was coaxed out of retirement to play for Division One outfit.
