Opal Property group was going to build student accomodation at the ground, but say the so-called credit crunch means they cannot afford to take part.
"We're extremely disappointed to be placed in this situation so late in the day," said the Rovers vice chairman Nick Higgs.
"After all the hard work put in by our team it's difficult to accept. We didn't expect this and there was no sign of it happening.
"However, we acted swiftly and opened discussions with another student accommodation provider, but unfortunately agreement could not be reached over the weekend.
"The club has decided therefore to go back to the open market, which will result in a delay of 12 months."