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LAS VEGAS (FOX5) -- The Madison Square Garden Company on Tuesday announced that it is halting construction on its MSG Sphere venue in Las Vegas as a result of COVID-19.

The company said that it would implement a temporary suspension of construction, with all work ceasing over approximately the next two weeks.

"The widespread global effects of COVID-19 have resulted in significant impediments to construction that are beyond the Company's control, including disruptions to its supply chain. As a result, the Company will implant a temporary suspension of construction, with all work ceasing over approximately the next two weeks," Madison Square Garden said in a statement.

Madison Square Garden Company said it remains committed to building the venue and looks forward to quickly and efficiently resuming construction as soon as practicable.

"As a result of this delay, the Company does not expect to achieve its goal of opening the venue in calendar year 2021," the statement said.

This is a developing story. Check back for updates.

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