Bournemouth's shareholders and board of directors claimed in a statement that they were "overly optimistic" about plans over a new stadium which were initially unveiled almost two years ago.
The Cherries had planned on moving into their new stadium within King's Park ahead of the 2020/21 season, as they looked to increase potential long-term revenue from the 11,450-capacity Vitality Stadium.
But the club's hierarchy now acknowledges that they may have been too confident with their initial time frame for the new stadium.
"Part of the club’s vision includes, in time where resources allow, to build first class facilities for the squad, staff and supporters," reads a statement on Bournemouth's official website.
"We have demonstrated our commitment to this with the purchase of land for the development of a new multimillion-pound training ground.
"The board acknowledge we were overly optimistic that a new stadium would be completed by the summer of 2020.
Bournemouth should be banned from premier league football simply for having just 10,000 fans in the stadium. Embarrassment— Chris Mac (@ChrisMacUK) October 1, 2018
"Any future developments will be undertaken around a healthy financial strategy that does not take away our ability to perform at our strongest levels on the pitch and risk what has been achieved to date.
"With regard to the developments, when we have a reliable timeframe we will make those facts known."
Bournemouth's meteoric rise from League Two to a stable Premier League side has captivated fans throughout the top flight. After narrowly avoiding dropping into non-league football just a decade ago, the Cherries have clawed their way right to the top of the English footballing pyramid.
At the heart of their success is manager Eddie Howe. The 40-year-old first took over on the south coast in 2012 to help them climb up the division, and he will go on to manage his 300th game for the club later this season.
The Cherries currently sit in seventh place under Watford, with only goal difference separating the two teams. Both sides will face each other on Saturday in a battle for a place in the Premier League's top six.