Tuesday 9 February at 16:01 : Feb.9 (GMM) Vitaly Petrov's management has denied reports the Russian driver's deal with Renault could be set to collapse.

The 25-year-old rookie, who finished last year's GP2 championship in second place, is signed to be Robert Kubica's teammate this year, but it emerged this week that the reportedly EUR15 million promised in funding to the newly Genii Capital-managed team may not materialise.

"The driver's management denies all rumours, which were due to a misunderstanding in an interview with the driver's father," Petrov's management Manuscript Agency said on Tuesday.

"We would like to inform you 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 Grands Prix counting for this year's FIA formula one world championship," the statement added.

The latest rumours, which surfaced earlier on Tuesday, suggested that Petrov's situation was so dire that he may be excluded from this week's testing at Jerez in favour of Renault's newly signed reserve driver Ho-Pin Tung.

But it has been confirmed that Petrov will drive the R30 at the Spanish circuit on Wednesday and Thursday.

And Petrov's management said: "At present, both team and driver are preparing for the next official test session, which is due to take place from 10 to 13 February on the Jerez circuit."