Hamilton's polarising V8s sculpture Passing Red has been gifted to the Te Awa River Ride Trust.
City councillors yesterday voted unanimously to donate the $150,000 artwork, with $8000 allocated to moving the sculpture.
The removal depends on the trust first finding a suitable site along the Te Awa River Ride cycleway.
The sculpture was commissioned as part of the city's ill-fated V8 races but was badly damaged in February last year when a car ploughed into it.
Council have agreed to repair the damaged section from insurance but may still have to pay a $2500 insurance excess.
The damaged section is in storage at council's Empire St yard while the western section remains on display in Hinemoa Park.
The Brian Perry Charitable Trust funded the artwork.
Council's strategy and policy committee chair Angela O'Leary said the council would consider future options for the Hinemoa Park site as part of a review of the council's sports parks management plan.
Any outcomes would be considered in the council's 2015-25 long term plan.