And in a double tribute Molineux's famous South Bank will be renamed after the legendary former chairman.

Steve Morgan announced the permanent tributes at last night's end of season awards.

The moves are sure to delight Wolves fans who had called for the club and the city to suitably honour the much loved 91-year-old, who died in January.

The location of the statue has not yet been revealed but Morgan said Wolves were working closely with council chiefs on the plans, which will likely see the statue placed in the city centre rather than outside Molineux where there are already statues of Billy Wright and Stan Cullis.

The South Bank, officially named the Jack Harris stand, will be called the Sir Jack Hayward stand from the start of next season.

An emotional Morgan fought back the tears as he paid tribute to Sir Jack during a speech at the awards.

He said: "We are in discussions with the city council about a statue in Wolverhampton.

"Sir Jack was a true hero of Wolverhampton.

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"And it's a fitting tribute that the Jack Harris stand will from next season be renamed the Sir Jack Hayward stand."

Morgan had to compose himself as he said: "I'm getting upset just thinking about him.

"He was a great and eccentric character.

"The unbelievable emotion for Sir Jack at the Blackpool match and at his funeral is something that will live with us forever."

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Morgan labelled Sir Jack's funeral, when up to 5,000 people crammed into Queen Square to watch the St Peter's Church service on a big screen, as 'Wolverhampton's state funeral'.

Jack Harris was chairman at Wolves in the late 1980s and part of the rescue consortium which saved the club in 1986.

The stand opened in 1993 and was the final one to open at part of Molineux's redevelopment, funded by Sir Jack's millions.

It is the second time a stand at the new Molineux has had its title changed, with the old John Ireland stand renamed the Steve Bull stand in 2003 in tribute to Wolves' record goalscorer.