Reports in Spain and England suggested Atletico representatives have been in London in the last 24 hours with a view to persuading 28-year-old Cazorla to return to Spain after just one season at the Emirates Stadium.
The versatile Spaniard scored 12 goals and provided 16 assists for the Gunners following his August move from Malaga.
But there is no truth to the story, according to Cerezo, who told Marca: "We have no news of Cazorla. These are invented stories that are made up every day."
The Madrid outfit have already tempered the loss of star striker Radamel Falcao to Monaco with the addition of David Villa and Leo Baptistao, and defender Martin Dimichelis, ahead of a Champions League campaign earned through a third-placed finish in the Primera Division.
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