Sheffield United co-owner Kevin McCabe has provided the funds for a blue plaque, commemorating the memory of Harry Brearley, at his former home in Torquay.
Tony Currie, officially United's greatest ever player and now a club director, will be present at its unveiling on Saturday to represent Bramall Lane.
Brearley, who was credited with the invention of stainless steel, was born in Sheffield but relocated to Devon after his retirement.
United supporters David and Ivantony Browne, who came up with the idea to recognise Brearley, revealed McCabe donated the money when pleas to the industry itself fell on deaf ears.
"The Torbay Civic Society had arranged for this blue plaque to be placed, however, when it came to raising the funds for the plaque, no company in the steel industry came forward to offer donations," Ivantony said. "Sheffield United Football Club, of whom Harry Brearley was discovered to be a fan, were approached and Kevin McCabe immediately donated the requested funds."
Currie, who spent a brief spell at Plainmoor towards the end of his career, will join the Browne's at this weekend's ceremony before attending Torquay's match against Woking.