There had long been a wish for a monument to the town's founder and King of Norway, Olav Tryggvason (approximately 968–1000).

As early as in 1860, the sculptors Hans Michelsen and Ole Laulo were already in the picture, but only with the 900-year celebration of the town in 1897 did the idea come to fruition, and the assignment was given to Brynjulf Bergslien.

The sculpture was placed in the north end of Ilevold Park. Unfortunately, it was made from perishable material that soon dissolved.

The statue now standing in Torvet (the city market square) was made by the sculptor Wilhelm Rasmussen during the years 1917-1921