Haukur Ingi Gudnason was a pacy forward, who came close making his first-team debut being three times on the bench in May 1998, but after an injury-plagued career at Liverpool he returned to Iceland. While Liverpool were winning 5-0 against West Ham and 4-0 against Arsenal it wouldn't have been a great risk allowing him to come off the bench and make his debut. As Gudnason clearly dejected came off the pitch after the Arsenal win, Steve McManaman cheered him up by saying: "Even though you would have come on for the last five minutes we would have only lost 4-3!" According to Gudnason Roy Evans told him he would start in the first game of the following season against Southampton, but he got injured during pre-season and that finished his career at the club.

Gudnason joined Icelandic side KR on loan in 2000 and the following year moved to Keflavik on a permanent basis. He remained playing in Iceland until 2011, having other spells with Fylkir and Grindavik.