Speaking on behalf of the producing team, Bob Boyett said in a statement, "We have made the extremely difficult decision today to postpone our production of Funny Girl. 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 continued, “I am deeply saddened by this decision, but I, along with the finest group of co-producers I have ever had the pleasure to work with, Sonia Friedman, Jean Doumanian, Stacey Mindich and Tim Levy, determined that this was not the right time to bring Funny Girl to the stage."

The production, starring two-time Emmy Award nominee Ambrose as Fanny Brice and two-time Tony Award nominee and Emmy Award winner Bobby Cannavale as Nick Arnstein, was scheduled to open at Broadway's Imperial in April 2012 following its engagement at Center Theatre Group/Ahmanson Theatre, which was scheduled for Jan. 15-Feb. 26, 2012.

(As previously reported, Billy Elliot the Musical will play its final performance on Broadway Jan. 8, 2012, at the Imperial Theatre.)

Tony Award winner Bartlett Sher was to direct Funny Girl, which features music by Jule Styne, lyrics by Bob Merrill and book by Isobel Lennart. The upcoming production was scheduled to feature scenic design by Michael Yeargan, costume design by Catherine Zuber, lighting design by Donald Holder and sound design by Scott Lehrer.  Music director was Kimberly Grigsby.  Choreographer was Christopher Gattelli.