The structure is to be unveiled at Morecambe Bay Art Fair this weekend and then to be sited outdoors permanently at Jo & Lee's By The Sea cafe on Morecambe promenade.
This is the site of the VVV gym and cafe where Tyson Fury used to train and eat.
The sculpture is by award-winning artist Anthony Padgett, who said: "The sculpture was inspired by Tyson Fury. It depicts the essence of the punch, the key moment in boxing.
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"It is great to have a sculpture depicting Tyson's world achievement in Morecambe. Also to have a contemporary artwork shows Morecambe is progressive in its views of art. I used to see Tyson Fury in the cafe but never spoke to him. I hope he likes the work."
Contemporary art is different from traditional 'lifelike' sculptures. It uses everyday objects in new ways.
Large sculptures made out of storm drain piping is a first that Padgett pioneered in 2020 with a 10 feet high commission for the Harris Museum and Art Gallery in Preston.
Anthony's traditional 'lifelike' sculptures, including of war poet Wilfred Owen and artist Vincent Van Gogh, are sited around the UK and in Europe.
Anthony, who is from Morecambe, said he is also in the ring as a contender to do a lifelike sculpture of Tyson in bronze.
You can see the sculpture prior to its installation at Jo & Lee's at the Morecambe Bay Art Fair at The Platform in Morecambe on December 4 and 5.