There has been speculation for some time that Olsson would be leaving Rovers come the transfer window and there have been reports of him saying that he would like to play in the top flight again.
West Ham manager Sam Allardyce could be the man to give Olsson that chance according to Sky Sports, and he knows the player well from his time in charge at Ewood Park.
Rovers are said to be considering the offer, believed to be around £3million.