Formula One’s top racing team Mercedes has vigorously denied a report of a looming new mega-contract for record world champion Lewis Hamilton followed by high-paying employment as a brand ambassador. “This is wild speculation, completely unfounded,” a team spokesman told SID, the German news agency.

What makes the denial somewhat suspect is the fact that it is given only to a German based network and not the English speaking media, the place of origin for the news story.

“We still have a whole year ahead of us,” said Mercedes motorsport boss Toto Wolff had said last week.

Nevertheless, the Austrian was optimistic about finding a basis for further cooperation with the 38-year-old star driver.

“Over the last ten years our relationship has grown to the point where it’s just a matter of him physically being back in Europe, us putting our heads together, wrestling a bit and then leaving the room after a few hours with white smoke,” Wolff continued.

Hamilton, who has won six of his seven drivers’ titles with the Mercedes factory team, had recently repeatedly stressed how much he still enjoys racing in Formula One.

“Nothing is for eternity. But something inside me tells me: ‘You’re not done yet, you have to keep going’,” the British driver told the New York Times in November.

Hamilton’s eleventh season for the Silver Arrows begins on 5 March in Bahrain.