I think this is fitting, and I particularly like the statue. It's one of the most iconic images of Coach Dooley. I initially wanted to see this statue placed closer to the stadium, perhaps at the southeast entrance that was redone a few years back, but this sounds like it will become a nice corner of campus.
I don't know exactly what the statue will look like. There are a few well known pictures of Coach Dooley on his player's shoulders, but this is the one I found online through the University of Georgia Library:
How 'bout this Dawg.