A Ferrari Formula One car will probably not zoom around Singapore?s roads next month.

The Straits Times understands that plans to bring the Italian F1 team here for next month?s National Day Parade have hit a road block.

The deadline for securing sponsorship, according to sources, is today.

But, it is understood that no sponsor has been been found so far, virtually ruling out Ferraris? presence.

A source estimated that it would cost over $1 million to bring the Italian team, with about $500,000 going towards their appearance fee.

The high fee for the two-day appearance is believed to be a major stumbling block.

It is understood that the 14-time F1 champions were initially scheduled to appear as a post-fireworks surprise for the Aug 9 event at the Marina Bay floating platform.

There was also a plan to run the Ferraris on closed streets around the City Hall area the following day.

It would give the public an inkling of what to expect when the Republic hosts its first F1 race next September or October on a street circuit in the Marina Bay area.

The Singapore Tourism Board and the NDP organising committee were reportedly involved in the move to feature the Ferrari team during the NDP celebrations.

Yesterday, Michael Roche, the executive director of Singapore GP, the firm organising the F1 race here, clarified that it was not a party to the talks.

An NDP 2007 organising committee spokesman declined to confirm the status of the sponsorship.

But he acknowledged that a proposal to have an F1 car as part of the celebrations had been mooted.