Tomorrow marks one year to the day since Sir Jack's death and Wolves have taken the opportunity to reveal initial details of the statue, which was first mooted last year.

It will stand at the top of Molineux Street, near to the old Wanderer pub by the exit of the subway from the city centre.

A design for the statue has not yet been finalised and it will likely take at least a year to complete, with Wolves keen to take their time on making the statue as fitting a tribute as possible to the great man.

Renowned sculptor James Butler, who created the Billy Wright and Stan Cullis statues at Molineux, has been commissioned to create it.

He knew Sir Jack personally and is working on draft drawings for final approval by Sir Jack's family and Wolves.

Club vice-president Baroness Rachael Heyhoe Flint said it would be a 'wonderful' tribute to her close friend of many years.

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"I know Sir Jack would be so proud to join fellow Molineux statues, Billy Wright and Stan Cullis," she added.

"Sir Jack would also be very thrilled that he is being 'created' by the same (and his favourite sculptor ) James Butler.

"It is most appropriate that this announcement coincides with Sir Jack's passing on January 13, 2015.

"He is still so fondly missed by all connected with the club and the city – but at least we can all look forward to seeing Sir Jack commemorated in what I know will be a wonderful tribute to a remarkable Wulfrunian."

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Wolves are keen to involve fans and the community with the project, with more details on this to be announced in due course.

The statue will be positioned within the 'football' mosaic paving by the subway entrance.

Council chiefs have also been involved in the plans.

Managing director Keith Ireland said: "The City of Wolverhampton Council is delighted to be working with Wolves to ensure Sir Jack is remembered by all."

Meanwhile a minute's applause will take place before tonight's game against Fulham at Molineux (7.45pm kick off) to remember legendary striker Roy Swinbourne, who died on December 27 aged 86.

The applause will also remember Sir Jack, whose passing a year ago aged 91 sparked an outpouring of grief and tributes.

Thousands lined the city's streets almost a month later for his funeral at St Peter's Church.

Sculptor Mr Butler has created monuments and memorials in London and across the world and is a Fellow of the Royal Society of British Sculptors.