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.
However, Southampton have brought in Saphir Taider, Ryan Bertrand, Graziano Pelle and Dusan Tadic in an attempt to fill the void, with Fonte also eager to work under new manager Ronald Koeman.
Despite reported interest from the likes of Hull City, the 30-year-old insists that he is not interested in offers from elsewhere.
"I am in negotiations to renew my contract. There have been offers from other clubs but I feel happy at Southampton," he said in quotes reported by the British press.
"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."
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