But the former Celtic boss is apparently content enough with his current arrangement of having a 12-month rolling contract.
He said: "I've not spoken to Randy in two-and-a-half years about a contract, nor have I had the need to do so.
"I don't know where the story came from. There's definitely nothing in it.
"I've never discussed a contract since the day I arrived and signed."
O'Neill is also in the dark over reports that the FA regard him as a major contender to eventually succeed Fabio Capello as England coach.
He said: "I don't know anything about the report. I can't prevent anything being written - other than something libellous."
Meanwhile, O'Neill feels the return of left-back Wilfred Bouma after an eight month injury lay-off will be like having "a new signing" at his disposal.
Bouma is close to earning a first-team recall after dislocating his ankle in an Intertoto Cup clash with Odense in July.
He made his comeback in the recent reserve game with Chelsea although he did not play in last night's second string clash with West Ham.
O'Neill said: "Wilfred is chomping at the bit. He is ready to go. That reserve game (against Chelsea) has helped him but he still has a bit of work to do physically.
"We worked him in one versus one, two versus two and three versus three situations in the recent training camp in Dubai and he is raring to go again.
"Wilfred has been out all season after having a fantastic 2007-08 campaign. It's now up to him to recapture that.
"It won't happen overnight because he still has some work to do. But again, when he does return, it will genuinely feel like a new signing."
Prem To Finish In Top 4 2008/09 Win Outright: Aston Villa 2/1