Sebastian Vettel has moved to rubbish rumours that he and Fernando Alonso are on the verge of trading teams.

Reports suggest that the German is being lined up to replace Alonso at Ferrari, with three-time world champion Alonso heading in the other direction to join Red Bull.

The Spaniard is said to be unsettled at Ferrari after the departure of former team principal Stefano Domenicali and president Luca Cordero di Montezemolo, coupled with the death of mentor Emilio Botín.

Vettel told Bild: "There have been no new developments. I am under contract at Red Bull and am happy where I am."

Previous reports suggested that the terms of the swap could be finalised before the Singapore Grand Prix in five days' time.