Walter who worked as a car dealer became the managing director of
FK Austria Wien in 1958, before ascending to the role of vice president in 1959, where he managed structuring the club along economic lines. This effort yielded remarkable results as the club clinched three consecutive championship titles from 1961 to 1963. In 1963, he briefly stepped away from Austria Wien but returned to football in March 1964, unexpectedly succeeding
Karl Decker as the national team's manager. Collaborating with coach
Béla Guttmann, he oversaw player selection while advancing his agenda to reform and professionalize Austrian football, encapsulated in the renowned
10-point program. However, encountering partial acceptance at the
Austrian Football Association's general meeting, Walter resigned in October 1964. Although some aspects of his plan were implemented in 1965, he distanced himself from this reform effort. ==References==