The centre-back admits there have been offers from potential suitors for his services, but is happy to remain at St Mary's as the club looks to rebuild following a summer exodus
The defender has seen former team-mates Adam Lallana, Rickie Lambert, Luke Shaw, Calum Chambers and Dejan Lovren leave for Premier League rivals in recent months.
|7/2||Southampton are 7/2 with bet365 to be relegated
"I am in negotiations to renew my contract. There have been offers from other clubs but I feel happy at Southampton," he told reporters.
"Ronald Koeman already knew he was going to lose some players. Of course he can't be very happy with the situation but he has already signed [several] quality players.
"We still need another three or four more. The players who have arrived have brought competitiveness.
"Ryan Bertrand came in Luke Shaw's place and has done good work, Graziano Pelle scored a lot of goals last year in Holland and Dusan Tadic has a lot of technical quality."
Fonte conceded to feeling deflated at the sheer scale of upheaval at the club, but felt that it was to be expected.
"I'm not surprised about the offers that arrived, but a bit disappointed and sad that so many players left," he added. "It wasn't the situation that the fans wanted, but that's football.
"They were offers which were almost irrefutable and with clubs like Liverpool and Manchester United it's difficult for the players to say no. We have to lift ourselves and carry on doing our work."