Joe McElderry 'fine' amid speculation record deal won't be renewed

X Factor 2009 winner Joe McElderry in good spirits despite rumours

Joe McElderry was mentored by Cheryl Cole on The X Factor

X Factor 2009 winner Joe McElderry insists he's 'fine' following reports his record deal won't be renewed when it expires next month.

A tabloid claims Simon Cowell's label Syco have opted to part company with the singer just 16 months after he was crowned champion on the TV talent show.

'Although he is still on Syco's books, his deal runs out in about a month and it won't be renewed,' a source told the Daily Mail.

'Simon gave Joe the best chance possible of success by making sure he worked with some of the world's top producers.

'Joe's a lovely boy and it is a pity it did not work out, but no one can say Simon and his staff did not try to make it work.'

But Joe, 19, doesn't appear to be fazed by the rumours.

When asked how he was today while out in South Shields, South Tyneside, he told the Daily Mirror: 'I'm fine.'

But Joe declined to answer further questions.�

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