The government has called a public inquiry into Essex's plan to redevelop their Chelmsford ground.
The redevelopment included proposals for affordable housing, retail and a multi-storey car park.
Essex treasurer Keith Brown told the club website: "This delay creates uncertainty at a time when economic conditions are very difficult.
"It puts in jeopardy the whole funding and financial viability of the project," he added.
"However, we have no choice but to make our case at the public inquiry and trust it will be expedited to allow the secretary of state to determine the application without delay."
Essex have played at the County Ground in Chelmsford since 1925 and reached an agreement with Chelmsford Borough Council over an adjacent car park that allowed them to submit a formal planning application.
Brown admitted he was disappointed that those plans are now on hold.
"We believe everything has been done to satisfy government policy and the development plan for Chelmsford," he said.
"Our development is a high-quality design bringing much-needed housing and jobs to the area.
"This scheme would act as a catalyst for the regeneration of the town centre."
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