With the seven time world champion on the verge of confirming his return to formula one, the German weekly Der Spiegel claimed that Schumacher's career will no longer be handled by his long time manager.
But 67-year-old Weber, who spotted Schumacher in Formula Ford in the 80s and now also manages Williams newcomer Nico Hulkenberg, hit back at the report.
"Rubbish," he said. "To say I will not be Michael's manager any more is completely invented. Absolute nonsense."
Der Spiegel and other publications had speculated about Weber's future after he admitted he is in the dark about whether Schumacher will return with Mercedes in 2010.