Dietrich Mateschitz has drawn a line under speculation linking Lewis Hamilton with Red Bull next year.
Mateschitz, the billionaire owner of the famous energy drink, told Kronen Zeitung newspaper that all the rumours have been "completely false".
With Mark Webber likely to ink a new deal for 2012, Austrian Mateschitz indicated that any future candidate for a Red Bull seat will be picked from the company's own talent pool.
"Only when we have no one appropriate from our own pool would we consider one of the guys in question," he said.
A source told The Sun: "In some ways his bosses think he is doing a better job than Lewis."
Button however said his future is not currently on his mind.
"You think I want to sit over a contract for the next three days? This is an important weekend," the 2009 world champion said at Silverstone.