"He's got a court appearance on Wednesday, we'll help him with that and it's very much a wait and see. We don't have much more information than the news reported.
"Either way we will try to do our best to help Glen (whether) he plays for the Breakers again or not."
The incident occurred at an Auckland bar on Thursday. Rice Jr has a chequered past but Walsh believed his own experiences and New Zealand's way of life could help turn things around.
"We have the infrastructure and the people…this country is such an amazing place. How do you mess this up?" he told the Radio Sport Breakfast.
"I'll be honest, maybe it was self-indulgence or me being naïve… I thought we were the perfect place to help him and playing for a coach he knows well.
"My focus now is doing what is best for the Breakers and getting Glen whatever help we can.
"These are the things you never want to deal with as an organisation. But this is life and sport. We'll get through it and get out the other side stronger."
The Breakers, who have a 2-7 record, have not only had a rough start on the court.
Walsh was suspended for a game and fined this year after an argument with NBL commissioner Jeremy Loeliger.
When asked if he was comfortable if the club had a new "bad-boy" image, Walsh said: "That's certainly not the intent.
"If that's the narrative people want to create, that's fine.
"This is just one of those things. This is the course our season has taken."
