There is already £30,000 in the Ivor Powell Sports Scholarship Fund
The man believed to be the world's oldest football coach has retired at the age of 93.
Ivor Powell was one of the great footballers of his generation.
At a party to celebrate his retirement from Team Bath at the city's university, Mr Powell launched a football scholarship in his name.
He coached the team for 37 years, played 14 times for Wales and was a teammate and close friend of Sir Stanley Matthews at Blackpool.
Mr Powell will continue his involvement with University of Bath one day a week on a voluntary basis.
He said: "I feel so proud of what I've done. I've been very, very happy at the University of Bath and I mean that.
"I'll be coming back as long as I'm capable of doing what I'm going to do."
'Dedication and commitment'
In 2004, the former miner who was born in Bargoed, south Wales, was inducted into the Welsh Sports Hall of Fame.
At his playing peak in 1948, he set a record transfer fee for a halfback of £17,500 when he moved to Aston Villa.
One of his many coaching roles was alongside Don Revie when Leeds United was one of the top clubs in the country.
At Tuesday's party, held at the university's sports training village, Mr Powell received messages from around the world from people who were coached by him.
The Ivor Powell Sports Scholarship Fund will be administered by University of Bath Development and Alumni Relations.
Money donated to the fund, which already has £30,000, will provide scholarships for future undergraduates who are gifted both academically and in their chosen sport.
Professor Glynis Breakwell, Vice-Chancellor of the University of Bath, said: "Ivor's dedication and commitment to coaching and sport over nearly four decades here at Bath has been an inspiration to thousands of young people."