The musical adaptation of Spider-Man, which features music by U2, is still on track to open next spring despite reported money problems.

A recent US media report said production preparations, including set construction and theatre preparations, had been halted for financial reasons.

The delay was blamed on problems mobilizing the $35million budget for the production.

However, a spokesperson for musical told Variety previews are due to begin as scheduled at the Hilton Theatre on February 25.

Spider-Man: Turn Off The Dark is being directed by Julie Taymor and adapted for the stage by scriptwriter Glenn Berger.

Actors Alan Cumming and Evan Rachel Wood are due to appear on stage as the Green Goblin and Mary Jane Watson.

The role of Spider-Man has yet to be cast.

The musical features lyrics and music written by U2's Bono and The Edge.

(by Jason Gregory)