May 7 (GMM) Norbert Haug has denied reports Mercedes is on the verge of quitting F1.

London newspaper The Times' F1 correspondent Kevin Eason reported that the German carmaker has conducted a study into how the withdrawal could be effected.

He said the reason for Mercedes pulling out would be because, unlike Ferrari, McLaren and Red Bull, the Stuttgart marque has not been offered a place on F1's post-floatation board.

When asked about Eason's report, Mercedes' competition vice-president Haug insisted to Germany's Auto Motor und Sport: "There is absolutely no truth to that."

The report said negotiations between Mercedes and F1 bosses over the next Concorde Agreement are ongoing.

First as an engine supplier only, Mercedes has been in F1 in the modern era since 1993.

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