Ross Brawn has refused to deny Merc's interest in Lewis Hamilton but says talk of it is nothing but an "awful lot of speculation."
Earlier this month rumours of Hamilton's pending move to Mercedes dominated headlines with claims that he is in and Michael Schumacher is out.
Hamilton, though, refused to confirm or deny while McLaren's response to it all has reportedly been to up the salary they are willing to pay the Brit.
The Guardian reports that 'McLaren have increased their offer to Lewis Hamilton in an attempt to see off a bid from Mercedes, placing an extra £2m a year on top of the £10m already on the table.'
McLaren's increase, though, may not have been necessary as Mercedes' team boss has called the Hamilton rumours "speculation", although refused to deny that he would want the Brit in his team.
"Any ambitious team looks at the top drivers and we're an ambitious team, but I think there's an awful lot of speculation," Brawn told BBC Radio 5 live.
"We will have some things to say in the next few weeks, next few months, and then all will become clear."
Pressed as to whether he would "like him, then, if he said yes," Brawn responded: "He's a very good driver. A very good driver."
As for Schumacher's future with Mercedes - and ultimately in Formula One - the Englishman also would not be drawn on that.
"[It is] still under discussion, I'm afraid. I can't comment very much on that, but Michael's been a huge asset to the team.
"He's really taken us forward. I do think Michael contributes an awful lot, so I think the decision for Michael to stay or not continue is a difficult one.
"Obviously he's very involved in that decision, and discussions are ongoing at the moment."
'McLaren to up Hamilton offer'