"I'm not going to comment on the kind of contract Nigel has. Reports in the media are way off the mark.
"There is talk that it ends next year, but that is completely wide of the mark in the way the contract is structured. It is a very personal thing between Nigel and the club. I don't think he would be discussing it right now, either."
from the indisputable source that is stringer twittering;
IanStringerBBC
Leicester City manager Nigel Pearson has just told me he HAS NOT turned down any contract offer from The Foxes and negotiations continue.
P | Pld | Pts | |
1 | Liverpool | 21 | 50 |
2 | Arsenal | 22 | 44 |
3 | Nottm F | 22 | 44 |
4 | Chelsea | 22 | 40 |
5 | Manchester C | 22 | 38 |
6 | Newcastle | 22 | 38 |
7 | Bournemouth | 22 | 37 |
8 | Aston Villa | 22 | 36 |
9 | Brighton | 22 | 34 |
10 | Fulham | 22 | 33 |
11 | Brentford | 22 | 28 |
12 | Palace | 22 | 27 |
13 | Manchester U | 22 | 26 |
14 | West Ham | 22 | 26 |
15 | Tottenham | 22 | 24 |
16 | Everton | 21 | 20 |
17 | Wolves | 22 | 16 |
18 | Ipswich | 22 | 16 |
19 | Leicester | 22 | 14 |
20 | Southampton | 22 | 6 |