The Colombian ace is being linked with the likes of Chelsea, Manchester City and Real Madrid with his father suggesting he could be on the move away from the Vicente Calderon Stadium as early as January.
But Cerezo is determined to remain in Spain's capital for another quarter of a century and wants Falcao to stay with him so they can again become a force in La Liga.
"I hope to be here another 25 years with Falcao. With his father, I do not know, but with him I hope so," he told AS.
"I am excited and very happy about this, because to be a leader of a football club for 25 years is very difficult. I have the desire and enthusiasm to continue longer.
"There have been ups and downs, but I'll stick with the first, with the times that we had fun. There have been many and in twenty years we have won eight titles.