Rosberg speculated to have agreed to two-year contract extension with Merc

German racer Nico Rosberg is reportedly speculated to have agreed to a two-year contract extension with Mercedes, who have revealed that they have 'long-term agreements' with both their Formula One drivers.

Although confirmation is yet to come on the contract, speculations are that Rosberg, who won the Australian Grand Prix in the ongoing Formula One season, has committed his long-term future to Mercedes with a new deal for two-years with the front-runners.

According to the Independent, the new deal is believed to extend Rosberg's stay with the

German manufacturing giants till the end of the 2016 Formula One Season.

Rosberg's contract extension reportedly implies that he would partner Lewis Hamilton for at least one more season the next year, with the latter's own deal due to expire at the end of next year.

A Mercedes spokesperson, who refused to confirm the length of the contract, said that they have long-term relationships with both Rosberg and Hamilton.

Mercedes currently top the charts in Formula One this season with Rosberg having won the opening race in Melbourne, followed by Hamilton winning all the last four Grand Prixs to lead the table with the German at second place behind the Briton, the report added.