Simeone is currently in charge of River Plate, while Javier Aguirre has strengthened his grip on the Atletico coaching position after clinching Champions League qualification.
However, Cerezo, after lunching with Simeone yesterday, made it no secret his hope to see the former club captain back at the Vicente Calderon.
"I am very happy for him because, apart from being a great coach and a great footballer, he is a great friend," said Cerezo.
Simeone also said: "I have six months left on my contract at River. In football, anything can happen. Everybody knows I have a special relationship with Atletico and I'm sure our paths will cross again."