Walter Raymond "Wally" Osterkorn (July 6, 1928 – January 11, 2012) was an American professional basketball player.
A 6'5" forward from the University of Illinois, Osterkorn began his pro career with the St.
Paul Lights of the National Professional Basketball League during the 1950-51 season.
When St.
Paul folded 20 games into the season, he was obtained by the Sheboygan Red Skins, who at that time were in their 13th season of operation, the longest-running professional basketball franchise in the nation.
Osterkorn played the final 19 games for Sheboygan and helped the Red Skins to a league-best 29-16 record.
He was named to the NPBL's second team as a forward after averaging 13 points per game, sixth-best in the league.
Osterkorn then played four seasons (1951–1955) in the National Basketball Association as a member of the Syracuse Nationals.
He averaged 7.0 points per game and won a league championship in 1955.