"On Tuesday I spoke on this program about some rumours than were circulating that Ben Cousins may have lost his way, and an announcement was imminent about his future," Olarenshaw said on Gold FM.
"I spoke with Richmond Football Club and his management during the week and they assured me his knee problem kept him out of Round 2 and he is in a good place mentally and physically at the moment and there is no question about his future at the club.
"I apologise for airing those rumours and putting Ben Cousins and the Richmond Football Club unfairly in the spotlight and causing unnecessary upset to Ben."