In case you haven't heard, Lewis Hamilton and Mercedes are currently at loggerheads trying to agree a new contract for the world champion.

Hamilton is in the middle of negotiating a new contract with his team, which has led to numerous reports about the current situation and the fact nothing has been agreed as of yet.

However, the F1 powerhouse have dismissed recent rumours surrounding the Brit’s future and has called them “pure fiction”, as per GrandPX news.

The F1 season starts in just a couple of months, if everything goes to plan that is, but Hamilton, who is a seven-time world champion, still technically doesn't have a contract.

This mostly could be from Mercedes' reluctance to pay him his full reportedly €40 million salary, give him a 10 percent cut in the brand's bonuses for winning the title, and an AMG-one hypercar.

Of course, all these demands are rumours at this time, with several outlets reporting it.

A source from Mercedes, however, has lashed out, calling reports of the rumours around Hamilton’s future as “pure fiction,” while a spokesman has stated that with Hamilton’s current situation, “there are no reasons to be concerned.”

This pointing to the lineup of the team for the 2021 season.

Corriere della Sera, an Italian newspaper, has reported that Ineos, the team’s new owner which is led by Sir Jim Ratcliffe, is willing to meet the difference in pay between what Mercedes want to pay Hamilton and what the Brit wants as a salary for the year.

If this does in fact happen, then the seven-time world champ would be expected to feature in all of the upcoming Ineos marketing campaigns.

Ineos is a British multinational company that surprisingly now boasts a record of owning a third F1 team to win a title.

It seems that it's a matter of when, not if, for Hamilton penning his new deal.