Toto Wolff has labelled reports that Mercedes have offered Lewis Hamilton £1m per week to re-sign as "nonsense."
Late last week newspapers reported that Hamilton, who is in the final year of his three-year contract with Mercedes, have been offered a whopping £1m per week to extend his stay.
In what would be a new three-year deal, the reigning World Champion would net a staggering £150m.
Wolff, though, says that is untrue.
"I think [with] these numbers you must question where you get your drugs from," he told Sky Sports News HQ. "I don't want to even comment on this nonsense."
The Mercedes motorsport boss did weigh in on the actual talks, saying they are still ongoing and that he is "positive" of a good outcome.
"We are in really good discussions with him, he wants to stay with the team and we want him to stay and we are in good spirits.
"Contract negotiations are something which takes time and we are positive so this is pretty normal business.
"Don’t forget it is the start of the season and everyone is expecting a contract to be signed soon and they are putting pressure and for us this has no influence in our discussions."