The tribute to the great man, being designed and produced by world-renowned sculptor James Butler, who celebrated his 86th birthday two weeks ago, had originally been due for completion and unveiling this summer.
But due to the intricacies of the work, the construction remains in progress, and will now carry into next year before being ready to be officially unveiled.
Wolves are also currently awaiting the results of geothermal testing before approving the precise location of the statue.
Once the 10ft clay model being sculpted has been approved, it will be moulded and sent for casting at the foundry, a process expected to take between four and six months.
Wolves Managing Director Laurie Dalrymple said: “We thought it was important to make supporters aware that there has been a delay on the unveiling of the statue in tribute to Sir Jack.
“The statue is such an important piece of work which is going to be a lasting legacy to Sir Jack’s immeasurable impact both to Wolves and Wolverhampton, that we have to make sure it is a true representation of the great man.
“Sir Jack’s family have been closely involved with club representatives on the project, and there have been regular visits to the sculptor James Butler who did such a fantastic job with the Billy Wright and Stan Cullis statues.
“James is making good progress with the design and we are all looking forward to the statue being officially unveiled, which now looks like it will take place in the early to middle of next year.”
A committee of Wolves supporters, chaired by Paycare Chief Executive Kevin Rogers, was set up when the plans were announced with fans also being encouraged to make donations towards the statue.
The gate receipts from last summer’s friendly against Swansea City were also donated to the project.
Kevin says: “Having viewed many images of the statue production process, I am very encouraged by the quality of the work undertaken by the sculptor James Butler.
“We are all waiting with great anticipation about what the final version will look like, but I think everyone will agree that it has to be a really fitting tribute to the great Sir Jack.
“His impact to both Wolves and Wolverhampton is something that will never be forgotten, and this statue is going to be provide a wonderful reminder of that contribution both to supporters of the club, and the people of the City as a whole.”
Wolves will provide a further update on the statue plans as and when there are any fresh developments in the future.
