The long-awaited Broadway musical production of “Spider-Man Turn Off the Dark,” which now counts former Live Nation Chairman Michael Cohl among its producers, is...

The long-awaited Broadway musical production of “Spider-Man Turn Off the Dark,” which now counts former Live Nation Chairman Michael Cohl among its producers, is being delayed yet again.

Continued funding issues reportedly have pushed the scheduled previews for the show from late February back to at least the fall, and now producers are refunding money for tickets purchased. The show’s Web site earlier today, however, was still listing the February 25 start date for previews and tickets still being on sale. Tickets were also still being hawked earlier today on Ticketmaster’s Web site.

The production will feature the music of Bono and The Edge from U2 and the direction of Julie Taymor of Lion King fame, and is expected to be by far the most expensive Broadway show in history with an estimated budget of $50 million.

Producers said the production will continue and they expect to announce preview dates in the near future.

People who bought tickets through Ticketmaster can request a refund through the company, the producers said in a statement, or they can trade those tickets for new ones once dates have been confirmed for the new previews. Ticketbuyers will receive full refunds; the producers said they will pay the convenience fees that Ticketmaster normally does not refund.

“This announcement was really no announcement, because everyone knew it wasn’t going to happen in February,” Broadway producer Ken Davenport told TicketNews. Davenport, who will be speaking at Ticket Summit in New York this week, is a veteran of several highly successful productions but he is not involved in the Spider-Man project.

The production has run into several difficulties since being announced in 2007, which prompted producers to reach out to Cohl for assistance. In addition to being one of the concert industry’s most influential promoters in recent decades, Cohl has also been involved in Broadway productions.

“Despite the delays, the good news is that they have heavy hitters involved, including Michael Cohl, who seems to be very dedicated to getting this done,” Davenport said. “Regardless of the rumors, this is going to be a major production, with great artists, and it will be a wonderful addition to Broadway.”