United were linked with the BVB star over the summer, while Los Rojiblancos have also been talked about alongside the Germany international.
Cerezo has dismissed stories claiming that the La Liga champions are weighing up a bid, and said that Reus rejected the chance to join United.
The Daily Mail quotes him as saying: "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."
Reus was recently named as Dortmund's vice captain by coach Jurgen Klopp.