Walsall manager Darrell Clarke has confirmed that attacking-midfielder Holden could be out for the remainder of the season as he is set to undergo surgery.
Speaking to the assembled media, Darrell said; "We have to try and look at something because Rory is going to be a big miss for us.
Holden, a former loanee who joined the Saddlers on a permanent switch from Bristol City in the summer, has missed the last few games after being injured during a recent training session.
Speaking shortly after the Saddlers suffered their third defeat in as many games - the latest a two-nil loss at the hands of Carlisle United - Clarke admitted he may be forced to make a loan signing to fill the gap.
"He is going to need surgery which is probably ten to twelve weeks if it all goes well and he would then need some weeks training – and there is already only sixteen weeks left by the time we play our next game.
"I think we have to get it into our heads that if we get him back before the end of the season it will be a bonus. We will try and use the market and it would help the group if we can freshen things up a little bit but there are no promises."