Rather than put the club at risk financially, we're going to find other ways of ensuring we've got international-class facilities
Somerset CCC chief executive Richard Gould
The plans for the new building also include a hydrotherapy pool and office space for the England Women's cricket team, who are based at the County Ground.
The current pavilion will eventually be turned into a conference centre.
Somerset CCC Chief Executive Richard Gould told BBC Somerset: "Scaled down is probably the wrong word.
"We had detailed planning permission for all-new playing facilities and a new indoor school but the finances on that in the current climate leave a gap of around £8 million.
"Rather than put the club at risk financially we're going to find other ways of ensuring we've got international-class facilities, our existing dressing rooms and facilities are about 25 years old.
"We're going to put an extension on to the Ondaatje Pavilion and the indoor school to create a really good facility for us.
"The Old Pavilion will be renewed at some stage but now's not the right time, we're going to attack some other areas first before we go back to that."
The club will submit a revised planning application for the 'club hub' to Taunton Deane Borough Council on Friday.
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Interview: Somerset CCC chief executive Richard Gould
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