Lewis Hamilton says he and Toto Wolff are "working on" a new contract for the seven time world champion for 2024 and beyond.
The big story pedalled by Formula 1’s international media this week is that Hamilton, 38, may be in direct contact with Ferrari president John Elkann about a potential big-money offer to leave Mercedes.
But at the same time, there are rumours that Charles Leclerc and Carlos Sainz have been guaranteed by Elkann that top-name technical signings will soon be making their move to Ferrari.
As for the Hamilton-to-Ferrari rumour, the major German newspaper Bild insists there is "nothing" to the story.
Hamilton, meanwhile, has been quoted by the Italian newspaper La Stampa as declaring that he is "happy at Mercedes".
"We haven’t signed a new contract yet, but we’re working on it," the British driver added.
Mercedes team boss Wolff sang a similar tune in conversation with the Austrian newspaper Osterreich on Monday when he was asked about the latest Hamilton rumours.
"None of it is true. We are discussing things normally, without any time pressure," Wolff said.
For his part, Hamilton says his relationship with Wolff is strong.
"I’ve been with Mercedes since 2013 and we hit it off straight away," he said. "He (Wolff) never told me that I have to change in this way or that.
"He always accepted me for who I am."
Hamilton will have a significantly upgraded Mercedes to race this weekend in Monaco, while Ferrari will unveil new rear suspension at the following grand prix in Barcelona.
"Toto is totally focused on making Mercedes improve," F1 CEO Stefano Domenicali told the Daily mail.
"He told me he made adjustments within the team to be sure that there is the right intensity to gain performance as soon as possible. I am sure this will happen very, very soon."