Watford manager Graham Taylor yesterday banished the ghosts of his torrid reign as England manager by masterminding his club's multi-million pound dream return to the top flight.

Watford will now rake in a £10 million fortune next season thanks to Taylor having spent the paltry sum of just £250,000 last summer.

That's all it cost to bring goalscoring heroes Nick Wright and Allan Smart to Vicarage Road from Carlisle. Watford now join Bradford and Sunderland in the Premiership from August, and will certainly start as co-favourites for an immediate return to the First Division alongside the Bantams.

History is definitely against the Hornets as five out of the seven play-off winners who have reached the promised land have enjoyed the briefest of stays.

But that will matter little to Taylor for now as he celebrates promotion.

Wright opened the scoring with a spectacular overhead right-foot volley after Andy Todd had attempted to clear away Peter Kennedy's corner.

Bolton tried desperately to salvage the equaliser in the second half, and but for a Gudjohnsen effort which drifted wide of the post again late on, they were rarely in the hunt.

As they pushed forward the inevitable gaps appeared at the back. Hyde set Kennedy free in the 89th minute and he picked out 75th-minute substitute Smart who drilled home an unstoppable second.

BOLTON WANDERERS: Banks (Hansen 89), Cox, Elliott, Frandsen, Todd, Fish, Johansen (Sellars 66), Jensen, Gudjohnson, Taylor, Gardner. Subs Not Used: Bergsson. Booked: Elliott.

WATFORD: Chamberlain, Bazeley (Smart 75), Bazeley (Hazan 87), Kennedy, Page, Palmer, Robinson, Ngonge, Hyde, Mooney, Johnson, Wright. Subs Not Used: Day. Booked: Hyde. Goals: Wright 38, Smart 89.

Referee: T Heilbron (Newton Aycliffe).