The winning AFL premiership captain will forever receive the Ron Barassi Medal, which has been cast to honour a sporting icon regarded as one of the greatest players and coaches in the sport’s history.

Barassi, an inaugural Legend of the Game when the Australian Football Hall of Fame was founded in 1996, was part of 10 premiership sides at the MCG – six as a player with Melbourne, two as a coach with Carlton and two as a coach with North Melbourne.

It’s the equal-most premierships of any person in VFL/AFL history.

The AFL announced on Monday that the game’s oldest living premiership captain, Geelong legend Fred Wooller, would present the medal to the triumphant skipper on Grand Final day later this month.

Norm Smith is the only person in VFL/AFL history to equal Barassi’s premiership record, and the best player in the grand final receives the Norm Smith Medal.

Now Barassi, who died 12 months ago, will also be recognised on the AFL’s biggest day of the year.

“At the time of Ron’s passing, the AFL stated he was the game’s most important figure in our living memory, both for his expansive vision for the game and for his achievements within the game,” AFL chief executive Andrew Dillon said.

“It continues still that Barassi was a talisman for success throughout his career and should be recognised for his enormous contribution to the game. He will now forever be celebrated and remembered every single year on grand final day – the biggest day in the AFL sporting calendar,” Dillon said.

“Ron Barassi’s name is synonymous with football. He became a phenomenon of our sport, revolutionising the game as a player and then building premiership success as a coach.

“To captain a premiership-winning team is one of the highest honours in our game and the premiership-winning captain will now receive the Ron Barassi Medal – a fitting tribute to a great of our game whose immense contribution and leadership will now always be celebrated.”

A statement from the Barassi family said Ron was “a fiercely determined natural leader. A game-changer”.

“To honour his memory with the premiership captain’s medal is a perfect fit,” it said.

Barassi was named ruck rover in the AFL Team of the Century and was named best on ground in four grand finals (1955, 1956, 1957, 1959). All-up, Barassi was involved in 17 grand finals as a player and coach across his 25-year career.

Barassi, Smith and Jock McHale are now all formally recognised on grand final day with medals named in their honour for the premiership captain, best player on the ground and premiership coach.

Hawthorn premiership captain and Carlton premiership coach David Parkin will present the Jock McHale medal for a second time this year after he honoured Collingwood coach Mick Malthouse in the 2010 grand final.

Champion West Coast forward Josh Kennedy was also unveiled as this year’s premiership cup ambassador.