The £21,000 Gauging the Ripple artwork – better known as The Ribble Piddler – was removed from the canalside in Ingol in January after an inspection found widespread rot and a crack in the calf.

Sculptor Thompson Dagnall, from Bretherton, near Chorley, had spent five months carving the 16ft oak statue – which was commissioned in 2002 as part of the £5.8m Millennium Ribble Link project.

The statue, which stood on the bank for five years before being deemed unsafe, is now beyond repair.

But it is hoped it will return in another form.

Mr Dagnall said: "Cast iron would probably be the best option, it's very durable and it seems to fit with the canal rather than brick or concrete. It would be a real shame if it didn't go back up because it's left a hole in the skyline as you drive past it."

The two-tonne monument was cut from its concrete base, lifted by a crane and taken by lorry to the British Waterways' North West maintenance depot at Burnley for tests.

Mr Dagnall added: "The timber deteriorated, who knows why."

Factors which may have contributed to the statue's decline are that infected wood was used or it had not been properly treated to prevent decay.

Debbie Lumb, British Waterways manager, said they are keen to restore the statue to its former location but finding enough money will be the key.

She said: "We are costing the options, which range from a variety of metal casings to something more fundamental such as concrete.

"Once the cost is known, we can judge on the option which gives best value whilst securing the statue's long-term future."

See Tuesday's Lancashire Evening Post to find out what the public think about the fate of the statue

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