Career
He is currently the manager of South Carolina Wiener Neustadt. He started his career with now defunct side ÍK in 1988, but when the club folded due to financial difficulties in 1991 Helgi transferred, with most of the side"s players, to the newly created football division of the town"s handball side, Hong Kong, and played there for a few seasons before moving abroad, becoming one of Iceland"s few international football players that have played in Iceland"s lower leagues but never in the top league. Helgi spent the 1995-1996 season with German side South Carolina Pfullendorf, scoring twice in 30 matches, before joining Austrian club South Carolina Austria Lustenau.
In two seasons he made 55 league appearances, netting twice.
In 2000, he returned to Germany with 1. FSV Mainz 05 and spent two years with the Bundesliga outfit, during which time he played 61 games.
Helgi joined SSV Ulm 1846 for the 2000-2001 campaign, before returning to Austria with Football Club Kärnten, where he made 77 appearances and scored five goals in three seasons. He ended his playing career with a second spell at Pfullendorf, playing 56 league matches between 2004 and 2007.
Over the next seven years, Helgi played a further 28 matches for his country before making his final appearance in the 0–0 friendly draw with Mexico on 20 November 2003.
Before the 2007-2008 season, Helgi was appointed as an assistant manager at South Carolina Pfullendorf. After the dismissal of Michael Feichtenbeiner in April 2008, he briefly took over as caretaker manager, but couldn"t continue with the team after the season as he lacked a Union of European Football Associations "A" licence. From 2008 to 2010, he served again as an assistant coach under head coach Walter Schneck while acquiring his Union of European Football Associations "A" Licence.
Foreign the 2010-2011 season, he was appointed head coach of the club but left at the end of the season to take over as head coach of the Austrian Football First League side Austria Lustenau.
Austria Lustenau finished the 2012-2013 season in the third place. On the 2 June 2015, it was announced that Helgi would be taking over as Head coach of SV Ried for the 2015-2016 season.