Chief executive Allan Duckworth insisted Bolton would look forward to the challenge after being drawn against Atletico Madrid in the UEFA Cup.
The Trotters will face the Spanish side in the last 32 of the competition after Atletico clinched top spot in the group stage with a late goal against Panathinaikos.
Duckworth told Sky Sports News: "It's a big one but they all are at this stage so we are pleased to be going to Spain.
"It's a formidable challenge but one that Gary Megson will relish so we are looking forward to that."