Dansk date Vordingborg
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In his first year at Anderlecht, the club won the 1979–80 Belgian First Division, conceding only 24 goals in 34 games.
Olsen played six years at Anderlecht, winning three Belgian championships with the club, and he was eventually named Anderlecht team captain.
In July 2000, he replaced Swedish coach Bo Johansson as the manager of the Denmark national football team.
As his assistant coach, Olsen chose Michael Laudrup.
He played professionally in Belgium and Germany, and won the 1983 UEFA Cup and three Belgian First Division championships with R. Towards the end of his active career, Olsen was characterized as the most important player in the history of Danish football.