Olaf Rework Idea
Olaf will need a small base attack speed boost for the lowered attack speed in kit, and numbers can change for balancing. Mana is replaced with Rage and starts to drop off when out of combat.
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Passive -- Berserker's Rage / Berserker's Blood : Berserker's Rage -- Olaf's gains 1 bonus Attack Damage for every 1% of Rage. Olaf gains 2% of Rage per second up to 10% for each enemy champion in Olaf's vision range. Olaf gains 2% Rage on auto attack and 5% on ability hit. Olaf converts every .5% of Rage above 100% into a 3 health heal. Rage is counted by every .5%. Berserker's Blood -- When Olaf is at or below 30% max health Olaf will converts 10% of non true damage dealt into true damage dealt.
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Q -- Undertow : Cost: 20% Rage / Range: 1000 Olaf throws an axe to target location, dealing 80/125/170/215/260 (+90% bonus Attack Damage) physical damage to units it passes through and slowing them by 29/33/37/41/45% for up to 2.5 seconds. The further the Axe flies, the longer the slow lasts, but it is never less than 1.5 seconds.If Olaf picks up the axe, the ability's cooldown is reduced by 4.5 seconds.
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W -- Vicious Strikes : Cost: 10% Rage For 6 seconds, Olaf gains 12/14/16/18/20% Life Steal and his Attack Speed is increased by 30/35/40/45/50%. During this time, Olaf also receives 1% increased healing from all sources and 1% Attack Speed for every 2% of Health he is missing.
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E -- Reckless Swing : Cost: Health and 15% Rage / Range: 500 Olaf jumps to his target with a ferociously swings his axes that deals 100/150/200/250/300 (+40% Attack Damage) damage to his target. This ability's cost is equal to 25% of the total damage dealt, but the health cost and half cooldown is refunded if it kills the target. If Olaf has Berserker's Blood active all damage is true damage.
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R -- Ragnarok : Cost: None Passive: Olaf gains Armor and Magic Resist. Active: Olaf removes all disables from himself and becomes immune to them for the next 6 seconds. Olaf also receives a 20/30/40% Movement Speed bonus towards enemy champions. During this time, Olaf loses the passive portion of Ragnarok and gains 100% rage reduction cost on all abilities.