The Argentine's exit from Atletico ruffled feathers as he appeared to try to force a move to Real Madrid, before ending up at City for a €45 million fee rather than the €60m the Spanish club desired.
With Aguero potentially angling for another move this summer amid interest from Paris Saint-Germain, Atletico's president says his "hero" status at the club was ruined by his exit in 2011.
"Aguero has been the only player who left Atleti under a cloud, as he was stupid," Cerezo told COPE. "He arrived as a hero, and he left through the back door."
Aguero arrived at the Vicente Calderon as a teenager in 2006 from Independiente and went on to score 101 goals in 234 games for the Liga club.
While the move to Man City has gone well for Aguero with two Premier League titles, the 28-year-old’s place with the club is now up in the air with the emergence of Brazil international Gabriel Jesus.