Bolton reached the Premiership in 1995 under the management of Rioch, thanks to a victory over Reading in the Division One playoff final. Rioch, who also led Bolton to the League Cup Final in 1995, a 2–1 defeat by Liverpool, left to take charge at Arsenal after the promotion success and was replaced by Roy McFarland, who was joined by Rioch's assistant Colin Todd as joint manager. Bolton were bottom for virtually all of the 1995–96 Premiership campaign and Bolton dismissed McFarland on New Year's Day 1996 and appointed Todd in his place. Todd was unable to save Bolton from relegation as they lost their penultimate game 1–0 to Southampton, but the Bolton board kept faith in him. The Bolton board's loyalty in Todd was rewarded when they won promotion back to the Premiership at the first attempt thanks to a season in which they achieved 98 league points and 100 goals in the process of securing the Division One championship, the first time since 1978 that they had finished top of any division. This season also marked the club's departure from Burnden Park to the Reebok Stadium, the last game at the stadium being a 4–1 win over Charlton Athletic.
Bolton were relegated on goal difference at the end of the 1997–98 Premiership campaign. Bolton reached the 1999 Division One playoff final but lost 2–0 to Watford. Todd resigned as manager the following autumn and was replaced by Sam Allardyce.
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