Life in pictures: Sir Jack Hayward and Wolves

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.

Sir Jack passed away in Fort Lauderdale, Florida, aged 91. Born close to Molineux, he was a Wolves fan from an early age.

As a young boy, he used to crawl under Molineux's turnstiles to grab a glimpse of his heroes and he retained this passion as a true Wolves supporter throughout his life.

During his 17-year ownership of Wolves, his vision and financial backing transformed a decaying Molineux into one of the first, and finest, all-seater stadiums in the country.

He gave successive managers money to spend on players, before in May 2003, his dream was realised as Wolves at last regained top-flight status, though it proved to be for only one season.

In the summer of 2007, he passed on the baton to current chairman Steve Morgan, handing over the Club for just £10 in return for a £30 million investment into Wolves.

This remains one of the most remarkable and generous acts, from any owner, in any sport.

That selflessness paid off two years later when the investment played a big part in Wolves winning the Championship and, once again, returning to the top flight, where they remained for three seasons.