Þorvaldur started at Knattspyrnufélag Akureyrar and played most of his career in England, first in the Premier League for Nottingham Forest and later for First Division clubs Stoke City and Oldham Athletic before returning to Iceland.
[1] "Toddy" arrived at Nottingham Forest in December 1989 for a fee of £175,000 from KA Akureyri after impressing Brian Clough.
New manager Frank Clark decided to release Þorvaldur and in August 1993 he joined Stoke City on a free transfer.
[2] A number of fine goals earned him a great rapport with the supporters and he became a popular player at the Victoria Ground.
However his relationship with the fans turned sour when he rejected a new contract offer in the summer of 1995 and consequently found himself out of the side and eventually signed for Oldham Athletic for a fee of £180,000 in December 1995.