JOHN McGinlay is confident Wanderers will be playing in Europe next season.
The Whites legend believes Sam Allardyce and his players are heading for a top six finish.
The only question is whether they will qualify for the UEFA Cup or the Champions League.
"I think we're there now, without a doubt," said the 40-year-old Scot. "It's just a matter of which competition - and I wouldn't rule out the Champions League."
McGinlay rates Sam Allardyce and his players, who travel to Liverpool on Saturday week and host Everton on the last day of the season, as the form team in the race to finish fourth in the Premiership.
Although Everton remain in pole position - four points clear of Liverpool and five ahead of Wanderers - Sunday's defeat at Anfield raised some serious doubts.
McGinlay was encouraged. "You might have preferred Everton winning, because that would put more pressure on Liverpool," he said. "But we could catch Everton now.
"I wonder whether Everton have blown up. Have they had their best time of the season?
"We're going into the final phase of the league in great form and, as long as we can sustain that and not have another blip like we had, I don't have any doubts about us going into Europe.
"And just think what that would mean for the club financially.
"If you're talking Champions League - even though it would only be the qualifying stages - that takes the club to a new level."
McGinlay, who flew back from the United States where he is coaching and still playing in Cincinnati to attend Sunday's Legends Dinner, believes Wanderers have both the talent and the team spirit to finish on a high. Having Jay Jay Okocha, Ivan Campo and Henrik Pedersen on the subs' bench against Norwich on Saturday, was a measure, he said, of the strength of the squad Allardyce has assembled.
"They are playing for each other and they've made themselves hard to beat. They are solid," he added.
"They are going out there knowing they are not going to give goals away cheaply, and just look at the bench on Saturday. The first couple of years when we came up, what we had was out on the park. Now, having strengthened every year, the players who were on the bench against Norwich would walk into most teams.
"What a difference it makes going into the end of the season looking at European football and not fighting relegation.
"In the past, everybody would have been happy to know we'd survived in the league but that's no longer enough. It's now a question of how high we can finish. That's phenomenal.
"You've got to take your hat off to Sam. What a job he's done.
"And I don't care what people say about styles of football. That's a load of rubbish. You play to your strengths. What kind of manager would you be if you didn't.
"If you've Kevin Davies in your team, you do what Kevin Davies is good at. He covers every blade of grass and I'll guarantee that the centre-halves in this league must look at Bolton Wanderers and not relish playing us.
"Kevin roughs them up, he knocks them about; the midfield get about people, they support well when they need to and drop off and soak up the pressure and hit teams on the counter-attack. And it's working.
"Sometimes it might not be pretty to watch but - if we went out just to entertain - would we be in the position we are now?"
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