The delay will allow producers a chance to recruit additional investors for the musical, which will cost $9.5 million to mount on Broadway. The extra time will also allow librettist Barry Levinson a chance to sharpen his script, which is based on his screenplay for the film.
Producer Scott Zeiger told the Times, "Everyone just feels it needs more work to be better, and we want it to be the best...We wanted to do the creative work without a spring opening being a gun to our heads. And we want to raise all the money, so we can open on Broadway without worrying about making budget and having reserve funds if ticket sales are slow at first."
Producer Zeiger also said that a developmental workshop in October was affected by Hurricane Sandy; fewer investors joined the producing team at that time than had been hoped.
Crow, who is composing the musical's score, is a nine-time Grammy Award-winning singer-songwriter.
Academy Award winner Levinson received an Oscar nomination for his original screenplay for "Diner," which was his film directing debut. The rueful film comedy starred Kevin Bacon, Ellen Barkin, Tim Daly, Steve Guttenberg, Paul Reiser, Mickey Rourke and Daniel Stern.