He was an important part of the 1999 Helsingborg team that won the championship in Sweden scoring 8 goals in 24 matches.

At the start of the 2000-season Powell was sold to Lillestrøm SK for £350,000 to replace Icelandic international Heiðar Helguson.

Although he has struggled with injuries Powell has been a key-member of the Lillestrøm squad since arriving in 2000, scoring 29 goals in 73 league matches.

On 26 January 2006, Magnus Powell was transferred from Lillestrøm to FC Lyn Oslo for NOK 500,000.

His active career as a player was ended in the Swedish team GIF Sundsvall, where he also was the assistant coach.