A day of remarkable drama at Molineux, where Wolverhampton Wanderers were staring relegation to the Championship in the face with little more than three minutes to go, culminated in scenes of wild jubilation at the final whistle as home supporters spilled on to the pitch to celebrate their Premier League survival. "Never in doubt," said a smiling Mick McCarthy as the Wolves manager puffed out his cheeks at the end of a breathless encounter.

His side finished a point ahead of Birmingham City after a pulsating afternoon when they spent a total of 17 minutes in the relegation zone across two separate periods. Wolves were in the bottom three at half-time, after Blackburn Rovers had raced into a three-goal lead that safeguarded their own top-flight status, climbed out briefly when Tottenham Hotspur took the lead against Birmingham but slipped back into trouble on goal difference when Craig Gardner equalised at White Hart Lane.

Wolves were losing 3-1 at that point, Jamie O'Hara having pulled a goal back that led to a belated and much needed revival after a listless first-half performance. "We only need one goal" reverberated around the stadium as Wolves fans succinctly got the message across that a 3-2 defeat would be enough to lift them above Birmingham by virtue of their having scored more goals. With time running out Stephen Hunt obliged in glorious fashion, curling a sublime left‑footed shot over Paul Robinson in the 87th minute that sparked pandemonium.

Wolves fans were euphoric and their mood was even better moments later when news filtered through that Roman Pavlyuchenko had scored a second goal against Birmingham. Coaching staff and substitutes embraced on the touchline, where McCarthy had been kept informed of developments elsewhere through a messenger scurrying back and forth from the dug‑out throughout the second half. Realising they were both safe, the two sides stood off each other in the closing minutes, allowing the clock to tick down before the final whistle provided the respite and relief both teams coveted.

"I'm thrilled, proud and knackered and emotionally feel like I've been through the wringer," said McCarthy. "I said all along it would be 22 May, I said it might take goal difference and it might take one point. I don't really know the outcome; I just know that we're still in the Premier League.

"The excitement that has been generated by five teams this afternoon has been outrageous, really. The permutations mattered 15 minutes before the end – we were in it, we were out of it, we were staying up, we were going down. Good old Hunty came up with the goal and we've relied on other results elsewhere but I thought Man United and Tottenham would win."

It was little wonder that Steve Kean looked considerably more relaxed. The Blackburn manager could not have imagined that his side would enjoy such a comfortable ride on the final day of the season. Rovers were rampant in the opening 45 minutes, when goals from Jason Roberts, Brett Emerton and Junior Hoillet left McCarthy holding his head in his hands. "I think the first-half display was probably the best 45 minutes of the season," said Kean. "We have left it to the last game but I thought we were exceptional."

Roberts opened the scoring, deflecting Michel Salgado's scuffed shot past Wayne Hennessey from 10 yards out. The lead was doubled on 38 minutes when Jody Craddock's headed clearance dropped invitingly for Brett Emerton to strike a sumptuous volley inside Hennessey's near upright. Having squandered a chance to make it 3-0, Hoillet atoned moments later when he capitalised on a mistake from the hapless Michael Mancienne before beating Craddock and George Elokobi and rifling home. Blackburn were coasting.

McCarthy admitted that he was forced to play a game of "Russian roulette" in the second half, when he replaced Mancienne with Sylvan Ebanks-Blake and moved Stephen Ward to left-back, but he got his reward.

After Hennessey had denied Roberts a fourth Blackburn goal O'Hara swept in Hunt's square pass from a well-worked free-kick routine. Hope had returned and Hunt made sure it would not be extinguished with his splendid strike from the right-hand side of the penalty area. Kean glanced across at McCarthy and the expression on the Wolves manager's face needed no explanation. "He gave me a look and I knew we were both OK," said the Blackburn manager, smiling.