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Walker married his high school sweetheart, and they had four children. He later married Olympic skier Skeeter Werner. Doak Walker died September 27, 1998 as a result of injuries suffered previously in a skiing accident. His death came 50 years to the day that he was featured on the cover of LIFE Magazine in 1948. He is immortalized by the annual Doak Walker Award, given to the best running back in college football, and by a statue placed between Gerald Ford Stadium and SMU's state-of-the-art Dedman Center for Lifetime Sports.
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