NEW YORK (AP) -- New York City is forging ahead with its plan to move the iconic Charging Bull statue at Bowling Green in lower Manhattan to a location near the New York Stock Exchange that is safer for crowds.

Mayor Bill de Blasio’s administration on Thursday said the New York Stock Exchange will pay for the move. The exact location is still unclear.

WABC-TV reports the proposed move is opposed by the sculpture’s artist, Arturo Di Modica.

The bull, the symbol of a rising market, was deposited in front of the New York Stock Exchange in 1989. It was impounded by the city but later installed two blocks south of its original site at Bowling Green.

The de Blasio administration says crowds would be more easily managed in front of the stock exchange.