[3] Ólafur was loaned back to Fylkir over a part of the 2003 season, and was voted the best young player in the Icelandic league 2003.
[4] His Arsenal debut came on 2 December 2003 in a 5–1 defeat of Wolverhampton Wanderers, replacing Justin Hoyte after 55 minutes of the match.
[7] Upon his arrival at Brentford, the club's website quoted him as saying: "I look at this as a very important move for my career, knowing that manager Martin Allen had been interested in signing me for a while was a huge compliment for me.
[10] After three successful years in Helsingborg, Ólafur turned down a new contract offer and signed for Danish team SønderjyskE on 6 December 2009.
[14] Ólafur earned his first cap for Iceland in a friendly against Mexico on 20 November 2003 as a substitute, replacing Veigar Páll Gunnarsson.