Vitaly Petrov's management team have rubbished talk that the Russian's F1 drive with Renault could be at risk.
Petrov, who was named a partner to Robert Kubica during the launch of the R30, was reported to be in danger of losing his drive over issues regarding a payment due to be made to the team at the start of March.
Those reports, in the Russian media, suggested that Petrov's father was awaiting approval of a loan from a bank to pay the first instalment to the team and that his dream of becoming the first Russian driver to compete in F1 could be ended if the money wasn't forthcoming.
However, a statement from Petrov's management has now rubbished those reports, insisting that it was down to a 'misunderstanding' in the interview carried out.
“Following recent speculation in F1-related media about the situation between the Renault F1 team and Vitaly Petrov, the driver's management denies all rumours, which were due to a misunderstanding in an interview with the driver's father,” the statement was quoted by ESPN
“We would like to confirm that the Renault F1 Team and Vitaly Petrov's management have reached full agreement and have signed a binding contract for 2010. Vitaly will drive for the team in all 19 Grand Prix in this year's FIA Formula One World Championship.
“At present, both team and driver are preparing for the next official test session which is due to take place from February 10-13 at Jerez. No further comment will be made.”