The 23-year-old has two years left to run on his present deal and is in talks with City about an extension.
Reports have suggested Richards is looking for a six-figure weekly salary, something the England international - currently on tour with City in the United States - strongly denies.
"I notice that one (newspaper) was claiming this weekend that I was demanding ?100,000 per week before I sign a new contract at City," Richards told mcfc.co.uk.
"That is nonsense. They don't know what has been said, offered, or asked for, so instead they just make up a figure which makes everyone think that I am being greedy.
"It's annoying but I suppose it goes with the territory these days."
Source: Team Talk
Source: Team Talk