The supporters club which was initially formed in the 1930's was resurrected back in March by Lionel Bird and is currently based at the ROAB Club in Foleshill Road.
Collections were raised by the supporters club and a cheque was presented to Joe Elliott last week.
Said Lionel Bird to the CT: "Jimmy's achievements while manager of Coventry City are legendary and he has a unique place in the club's history.
"We feel that the propsed statue is a fitting tribute to hte man who put Coventry City on the football map."
For more details about the Jimmy Hill Tribute Appeal which is due to end on Saturday and how to donate, please click on:
http://www.coventrycity-mad.co.uk/news/tmnw/back_the_jimmy_hill_tribute_appeal_538653/index.shtml