Set to star Lauren Ambrose and Bobby Cannavale, the production was to go to Broadway in April following an engagement at Center Theatre Group/Ahmanson Theatre in Los Angeles.
"We have made the extremely difficult decision today to postpone our production of 'Funny Girl,'" Bob Boyett,
speaking on behalf of the show's producing team, said in a statement. "Given the current economic climate, many Broadway producing investors have found it impossible to maintain their standard level of financial commitment. Our desire to produce 'Funny Girl' on the scale it deserves required a capitalization of $12 million making it one of the most expensive revivals in Broadway history."
Boyett said he is "deeply saddened by this decision," but feels "this was not the right time to bring 'Funny Girl' to the stage."
Notable deaths of 2014 [PHOTOS]