U2 may have 240,000 people in the palm of their hands this weekend in Dublin, but in New York another mammoth project is not running as smoothly. The Broadway creation of Spider-Man: Turn Off The Dark, a musical based on the Marvel comics character with music and lyrics written by Bono and the Edge, is hitting obstacle after obstacle in an economic climate not friendly to massive productions.

The show's director Julie Taymor recently admitted that the show's cost has already hit $40m (€28m). Rehearsals and construction have been dogged by delays, work-permit issues, rumours of financial backing not coming through, rescheduling and an increasingly expanding budget.

Previews for the musical, set to be one of Broadway's biggest ever productions, were originally scheduled for 16 January 2010, but have been pushed back to 25 February.

Along with opening dates, dates for rehearsals have changed multiple times, and only two members of the cast have been signed up so far.

In March, the New York Post hinted at difficulties with the production's construction elements claiming development had been "moving slower than anticipated".

Then in June, work stopped altogether, with rumours circulating about bank loans not going through to finance the construction of the set.

The show's production team said the work stoppage came about because of a problem with permits.

It is estimated that the budget will probably run close to $50m, if not over, meaning that the musical would have to run with a full house for several years to break even.