Grenndi Þórleifr Þrœnda
þengils hróðr fyr drengjum;
hafa ólítit ýtar
Jarlsníð borit víða.
N*orðr réð verstan virðum
vellstœri brag fœra,
brot lands ok galt gæti
gráliga léons bôru.
Þórleifr grenndi hróðr þengils Þrœnda fyr drengjum; ýtar hafa borit víða ólítit Jarlsníð. Réð fœra n*orðr virðum vellstœri verstan brag ok galt gæti lands gráliga brot léons bôru.
Þorleifr diminished the praise of the ruler of the Þrœndir [NORWEGIAN RULER = Hákon] before the warriors; men have carried widely the not small Jarlsníð (‘Níð against the jarl’). He brought north to the honoured gold-increaser [GENEROUS MAN = Hákon] the worst poem and repaid the guardian of the land [RULER = Hákon] bitterly for the destruction of the lion of the wave [SHIP].