Reports about Jenson Button's apparent retirement from Formula 1 has been laid to rest after McLaren-Honda officially confirmed that the 35-year old British racing driver will stay with them for the 2016 season.

Ron Dennis, Chairman and CEO of McLaren, stated that Button's contract was good for 2015 and 2016 though there was the option of terminating it. But Button's enthusiasm and commitment to the team proved otherwise, making the termination option 'irrelevant'.

“As I say, I am extremely pleased. Jenson is the most experienced driver currently racing in Formula 1, and next season he is due to become only the third driver [after Rubens Barrichello and Michael Schumacher] in Formula 1 history to pass the milestone of 300 Grands Prix. But, although that wealth of experience makes him a massively valuable asset to our team, hugely expert in all aspects of the 21st-century Formula 1 driver’s craft, he is also supremely fit and as super-fast as ever,” said Dennis.

Jenson Button on the other hand admitted that he was at one point unsure about his future in motorsport racing. It was only when he got to know Ron Dennis more and found that his determination fueled the team's confidence in the competition.

“That gives me great confidence, and it is for that reason that, together, he and I have decided to continue our partnership; and, as soon as I had made that decision, straight away I realised it was the correct one,” said Button.

He does admit however that the team has experienced setbacks in this year's season but rest assured that they will improve upon this for 2016.

“This year has not been an easy one for us, but we know what we need to do to improve things and, in collaboration with Honda, we will work extremely hard over the next weeks and months in order to make sure that 2016 will be a much better season than 2015 has been,” added Button.

There is no word yet however on Fernando Alonso if he will remain with McLaren-Honda.