The bronze statue, which celebrates England’s 1966 World Cup win, features England captain Bobby Moore alongside Irons players Geoff Hurst and Martin Peters with Everton’s Ray Wilson and was initially unveiled near the Boleyn Ground in 2003.
Newham Council has given the go-ahead for the 16ft to be moved to the former Olympic Stadium, where the Premiership side will play their home games next season.
But members said this could only happen after “a fully-funded plan was in place to improve the junction in Barking Road where the sculpture currently stands.”
This junction has been the location for almost 40 accidents during the past five years.
Stringent provisos also include the installation of a piece of public art linking the area to West Ham United and all road improvements and relocation cocts should be paid by partners.
Cabinet member for building communities, public affairs, regeneration and planning Councillor Ken Clark said: “This is an iconic sculpture showing West Ham’s key role in one of this country’s greatest sporting successes. It is only right it is a key part in the next chapter of the club’s history when they move to the former Olympic Stadium.
“However, we must not ignore the area it will be moving from. We need to look at improving the junction and if a new sculpture can be included and will we work with the local community to take this forward. Any new sculpture could have a West Ham United theme to maintain the club’s connection to the area or something reflecting the local area.”
It is thought the 16ft artwork will be the focal point of Champions Place - which will include a new walkway of dedication to the Hammers’ greatest players as well as 20,000 granite stones engraved with fans’ names.
The Champions Sculpture was commissioned by Newham Council and West Ham United in 2001 and designed and crafted by renowned British artist Philip Jackson.
It was also funded by the Arts Council.
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