A recent report claimed that Atleti were interested in bringing the Spaniard on loan for a season.
However, Cerezo admitted that the player's wages coupled with his importance at Chelsea mean a deal is unlikely to be forthcoming.
"Mata is a good player but he is in the Premier League and over there they are paid a lot," Cerezo told reporters.
"We have a fantastic squad and right now I do not know if the Coach is planning to bring in anyone else or not, but even so, we have seven days."
Chelsea have also said that they have no intention of letting the playmaker leave Stamford Bridge, according to Sky Sports News.