Reus, one of the hottest properties in Europe, is widely expected to leave Borussia Dortmund in the next 12 months and has been linked with the likes of United, Bayern Munich, Arsenal and Chelsea this summer, while a deal with Atletico was reportedly on the verge of completion last week - something Cerezo denies.
Meanwhile Franz Beckenbauer weighed in with his belief that Reus will join a big club "like Manchester United", while former Borussia Dortmund defender Jurgen Kohler says only money and trophies can keep him at Signal Iduna Park.
And Cerezo revealed: "I don't know where the Marco Reus rumour came from. It's a player who, at this time, is impossible to us. Look, he had an offer for a lot of money from Manchester United and he has not gone... we will not sign him with a lesser offer".
United are under pressure to make signings following their opening day 2-1 defeat at Old Trafford to Swansea and are expected to tie up a £16 million-plus-Nani deal for Marcos Rojo later this week.