Lewis Hamilton says he is not holding out for more money from Mercedes and expects to have news about his new contract in Monaco.

The double world champion's current deal expires at the end of the season and negotiations have been ongoing over a new contract for a number of months. When asked about a report which claimed he and Mercedes are in deadlock over his future salary, Hamilton replied: "That is not the case.

"It is utter bullshit, basically. All stories that have come out about money-wise are generally bullshit."

And when asked if he is any closer to agreeing a deal, Hamilton said the next race will see new developments.

"You'll see it in Monaco – I will have some news for you in Monaco."

Hamilton - who finished second in Sunday's Spanish Grand Prix - joined Mercedes from McLaren ahead of the 2013 season, but has been linked with a potential move to Ferrari if he were not to sign a new deal.

For live coverage of the opening day of testing, click here

Click here for Tuesday's gallery from testing at the Circuit de Catalunya

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Andrew Lewin

Andrew first became a fan of Formula 1 during the time when Michael Schumacher and Damon Hill were stepping into the limelight after the era of Alain Prost, Nigel Mansell and Aryton Senna. He's been addicted ever since, and has been writing about the sport now for nearly a quarter of a century for a number of online news sites. He's also written professionally about GP2 (now Formula 2), GP3, IndyCar, World Rally Championship, MotoGP and NASCAR. In his other professional life, Andrew is a freelance writer, social media consultant, web developer/programmer, and digital specialist in the fields of accessibility, usability, IA, online communities and public sector procurement. He worked for many years in magazine production at Bauer Media, and for over a decade he was part of the digital media team at the UK government's communications department. Born and raised in Essex, Andrew currently lives and works in south-west London.

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