Skov Olsen joined Wolfsburg from Club Brugge in January 2025.
The Danish international has made 23 competitive appearances for Wolfsburg so far, scoring three goals and providing one assist.
During the second half of last season, he was loaned out to Glasgow Rangers, playing a total of eleven competitive matches for the Scottish club (one goal, three assists).
Istanbul Basaksehir plays in the top Turkish division and finished in fifth place last season.