Story highlights Japan has abandoned plans for a controversial new centerpiece stadium for the 2020 Olympics

The design, by Zaha Hadid Architects, had been criticized on cost and aesthetic grounds

The move means the new stadium will not be ready in time for the 2019 Rugby World Cup in Japan

Tokyo (CNN) Japan is scrapping controversial plans for an expensive new centerpiece stadium for the 2020 Tokyo Olympics, Prime Minister Shinzo Abe announced Friday.

Iraqi-British architect Zaha Hadid's ultramodern design for the stadium -- likened by critics to a giant bike helmet -- has been the subject of fierce debate in Japan, particularly since the cost of the project rose to 250 billion yen ($2.02 billion).

Officials have hinted in recent weeks that the design could be scrapped.

Speaking to reporters outside his official residence Friday, Abe said the decision had been made to seek a new design as soon as possible, with the goal of minimizing costs and constructing the best stadium possible.

"I have made a decision to take the plan back to square one and reconsider," he said.

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