Ferrari and Red Bull may already have inked separate new Concorde Agreements with F1 chief executive Bernie Ecclestone.
The rumour follows the top teams' recent split from the association FOTA.
The current tripartite Concorde agreement, binding the teams with the commercial rights holder and governing FIA, runs out at the end of 2012.
Germany's Auto Motor und Sport quotes Ferrari president Luca di Montezemolo as denying that a new deal has already been struck.
"We will start with the negotiations in January," he said.
By trying to deal with the big teams individually, Ecclestone could - for example - promise Ferrari and Red Bull more money whilst weakening the ability of the FOTA group to negotiate a proportionately higher share of the income.
Montezemolo added: "Whether as a group or individually, we will come to an agreement."