Atletico Madrid are looking to bring in a new striker to replace Sergio Aguero, who joined Manchester City earlier this week.
Porto have reportedly put a €45million price-tag on Colombia international striker Falcao.
“We like Falcao, but he is expensive. We know that Porto are asking for and there were not even any contacts,” Cerezo told O JOGO.
Falcao’s current contract at Porto is set to expire in the summer of 2015.