TUCSON, Ariz. — The University of Arizona says it will honor former Wildcats basketball coach Lute Olson with a statue on campus.

Director of Athletics Dave Heeke announced Tuesday that the project will cost about $300,000 and construction is scheduled to be completed in March 2018.

The statue will be located north of the Jim Click Hall of Champions on the Eddie Lynch Athletics Pavilion Plaza.

Olson coached Arizona from 1983 to 2008 and compiled a 589-187 record, guiding the Wildcats to the 1997 national championship, four Final Four appearances, 23 consecutive NCAA Tournaments and 11 Pac-10 titles.

He was Pac-10 Coach of the Year seven times and led Arizona to 20 consecutive 20-win seasons.

Olson, now 82, was enshrined in the Naismith Memorial Basketball Hall of Fame in 2002.