The band, who had recorded "futuristic" tracks for the record with producer RedOne earlier this year, will head back into the studio to reformulate the LP's sound in the upcoming months with the hope of having it completed by next year.
"We had to have a meeting and look at the schedule to see if we could pick up any extra time to work on it," U2 bassist Adam Clayton explained to Rolling Stone. "We just realised that we couldn't. To be honest, everyone was a bit gutted. But it was the only sensible decision."
Clayton also revealed that the songs recorded with RedOne will be dropped from the album, though their collaborations with Danger Mouse will most likely make the final cut.
"We have to focus on what we do best, and the work we did with Danger Mouse came closest to that. In the end, the thing we did with RedOne doesn't feel like the right fit," Clayton said.
Clayton previously claimed that U2 will put Glastonbury "on steroids" when the band performs at the festival later this summer.