Jun.27 (GMM) Norbert Haug has dismissed the latest speculation about Michael Schumacher.

At Valencia, Mercedes team boss Ross Brawn suggested that the seven time world champion's current three-year contract might be in fact a two-year deal with an option for 2012.

But Haug, the German carmaker's motor racing vice-president, insisted on Monday: "Michael says himself that he has a three-year contract. Until then we are not thinking even a bit about what is going to happen."

However, 42-year-old Schumacher said when he returned last year that he is not interested in racing in F1's midfield.

But Haug has told the German news agency SID that Brackley based Mercedes GP is yet to make its most difficult step.

"The fact is that in this business there are three top teams, and we have established ourselves as the fourth," he said.

"I don't think you jump so easily from fourth to first. From sixth to fourth is already difficult, but from fourth to third, second and first -- those are the hardest steps," insisted Haug.

He refuses to blame Mercedes' budget.

"We can't hide behind it, because I don't think it is the limiting factor," said Haug. "We definitely don't have the highest budget, but it is good enough. So we need to keep working."

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