Managerial Career
Following his retirement from his active career, Olsen managed various teams at Brøndby. He coached the reserve team, he was assistant manager of the first team, and he was youth team manager.
In January 2003, Olsen was signed as manager of Randers in the Danish 1st Division, the second best league in Danish football. He managed the team into promotion for the 2004–05 Superliga season, but the team was relegated after only one year in the Danish top-flight football. He stayed at the club and managed Randers to the 2006 Danish Cup victory, while the club secured promotion for the 2006–07 Superliga season. He was named 2006 Danish Manager of the Year.
In January 2007, Olsen announced he was moving to become manager of league rivals Odense BK (OB), effective from July 2007. He managed OB into second place of the 2008–09 Superliga season, and was nominated for the 2009 Danish Manager of the Year award. In September 2010 he and OB sports director Kim Brink was fired due to lacking results.
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