 Ölvestad had played three seasons in Sweden for Djurgårdens IF before coming to the NHL in the 2001–02 season to play for the Lightning.After three seasons in North America, during which he appeared in 111 NHL games with the Lightning, Ölvestad returned to Djurgårdens IF during the 2004–05 NHL lockout.While the NHL resumed play in the 2005–06 season, Ölvestad decided to remain in Sweden.