Just a hunch but I would imagine a game of poker is currently being played behind the scenes. Walsh like COH enjoyed his time here winning the league. COH was on a free and we took him, Walsh wasn't. I am confident he was spoken to in detail about future opportunities. I think Osti and James the same.
Of course Walsh can't sell himself short and take over 25% less than elsewhere. However, I suspect he would like to return to the faces and fornation he gelled with with. Money talks and his agent will have options lined up for him to consider so fingers crossed as he would be a very good addition.