In total the sculpture cost £ 1 @.@ 42 million to design and construct — twice the original estimate , as the initial costing had neglected to include installation costs . Funding was sourced from a European Regional Development Fund contribution of £ 700 @,@ 000 , the North West Development Agency , contributing £ 500 @,@ 000 , and Manchester City Council providing £ 120 @,@ 000 .