Project organisers need a final £38,000 to complete the delayed statue which is set to be installed in West Bromwich - in tribute to Laurie Cunningham, Brendon Batson and Cyrille Regis.
Murry Toms, who launched the fundraising campaign on Crowdfunder, said there is a new sense of urgency following Cyrille Regis' death and with the 40th anniversary of the Three Degrees first game fast approaching.
Murry, who works for Crowdfunder, said: "I think the fundraising campaign is a way for supporters to finish off the statue and to say thank you to Cyrille for the role he played in the 70s in paving the way for black players to get into game.
"Cyrille was involved in the project since day one, but unfortunately he can't see it to the end."
Murry, who works for Crowdfunder which is a fundraising platform, kick-started the campaign after hearing that the statue was not far off completion.
He got in touch with Jim Cadman, who set up the project, before launching the project, which was so far cost £220,000.
The Crowdfunder page has raised more than £1,000 but the deadline of the campaign will end on February 19.
The page reads: "The Celebration Statue is being created in honour of the outstanding contribution that was made in the fight against racism in football in the during 1980's by three of the greatest players ever to have worn the shirt of West Bromwich Albion: Laurie Cunningham, Brendon Batson and Cyrille Regis.
"Laurie Cunningham was the first black player to represent England in a full international when he played against Wales in May 1979.
"Brendon Batson is one of football’s leading administrators.
"And Cyrille Regis was recently voted the most iconic Albion player of all time by fans of the club.
"When complete the statue – cast in bronze and 10-foot high – will be a permanent tribute to three players who have made an enormous contribution to the sporting and cultural heritage of our country."
Sculptor Graham Ibbeson has been working on the project in the past five years.
To donate, visit www.crowdfunder.co.uk/celebration-statue