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Atletico Madrid president rejects talk of signing Diego Costa this week

Atletico Madrid president Enrique Cerezo has denied reports that wantaway Chelsea striker Diego Costa is closing in on a return to the La Liga club.

Costa arrived with his family in Madrid from Brazil on Tuesday with AS claiming that the Spain international intends to remain there until at least the New Year, fuelling speculation that he will complete a €60 million move to former side Atletico this week.

However, Cerezo told Spanish media: "If his family is moving [to Madrid], I do not know. What I know is that Costa is a Chelsea player and until January, there is time to talk to his club and with whoever else.