A report today suggested the England international had signed a highly-lucrative record-breaking four-and-a-half-year deal.
However, Press Association Sport understands that talks, which have been taking place for some time now, are still continuing.
Rooney has been linked with an exit ever since the end of last season, when former manager Sir Alex Ferguson said he had made a transfer request, and Chelsea were reported to be interested in the 28-year-old.
United's dip in form - they are seventh in the table, 11 points off the top four - appeared to be another cause for concern regarding Rooney's future but the opening of talks several weeks ago appear to allayed fears of him leaving.
Team-mate Patrice Evra could also be set for an extended stay as Press Association Sport understands there is a possibility the Frenchman, who was expected to be part of a summer clear-out when his contract expires, could get a new deal having started all-but-one of their Premier League games this campaign.
The 32-year-old has been linked with a return to France and manager David Moyes did have an interest in Everton's Leighton Baines only for the England defender to sign a new contract recently.