Blick newspaper reports that journalists, particularly those in Germany, have been warned away from that sort of speculation with a letter from lawyers representing the great German's family.
In the meantime, Bild am Sonntag newspaper quoted manager Sabine Kehm as saying Schumacher's wife Corinna only wants the 45-year-old closest friends to be around him.
One of the closest of all is 67-year-old Frenchman Todt, who today heads F1's governing body.
"Michael and Jean formed a deep and respectful friendship during their time at Ferrari," triple world champion Niki lauda said.
"That he is at his side now is very important," he added.