Mar.10 (GMM/Inautonews.com) Niki Lauda has scoffed at reports Lewis Hamilton could switch to Ferrari rather than sign a new Mercedes contract beyond 2015.

Briton Hamilton is conducting his own negotiations with the German marque, and has reportedly hit a snag in his demands for $1.5 million per week.

Team boss Toto Wolff has already slammed the reported wage figures, telling a reporter: “You must question where you get your drugs from”.

And now Mercedes team chairman Niki Lauda insists there is no deadline for the conclusion of the talks.

“No, there is no timetable and we have no pressure because Lewis has a contract with Mercedes to the end of the year,” he told the German broadcaster RTL.

“But there will be a new contract, for sure.”

Austrian great Lauda therefore rubbished speculation Hamilton is now using reports of approaches by Ferrari last year as leverage in his negotiations.

“Nonsense,” Lauda told Germany’s Sport Bild. “Lewis will still be with us next year. You’ll see.”