The council backed project which was launched yesterday with a meeting down at the New York Stadium, will mark 125 years of the Football League and also Wharton being the first black professional player in the country to pen a deal with the then Rotherham Town in 1889.
Supporters will also hopefully have the chance to attend a tribute dinner and a 125 Challenge Match involving the Millers and Manchester United.
Chairman Tony Stewart said at yesterdays launch: "I think it needs to be celebrated that Arthur was the first professional black player and signed for Rotherham. We know his great-great grandchildren are still living in Rotherham and it will commemorate what the man achieved.
"It`s also about racism and I think it`s right and proper that we, in Rotherham, celebrate the fact that not only have we got a new stadium, we`ve got ease of access, we welcome all and I think it`s about being able to see at all levels that there`s equal opportunities and everyone is accepted. We'd like the statue in place by the end of the year."