The forward has been told he is no longer needed at Stamford Bridge and is looking for a new club.
It seems he would like to go back to Atletico Madrid, but their transfer ban means he would not be eligible for registration until January 1 2018
Reports in Brazil had suggested he might return to the country of his birth until the New Year – possibly on loan – before heading to Spain permanently.
Atleti are thought to be keen but their president was keeping his cards close to his chest when he discussed a potential deal.
Diego Costa transfer odds: Where will Chelsea star play next season?
DIEGO COSTA has said that he’s been told to find a new club – but where could the Chelsea striker be playing next season?
“He is the one that has to say and decide”
Cerezo told Spanish radio station Cadena Ser:
“He is the one that has to say and decide.
“Costa is a Chelsea player and we can’t even say that we are interested.
“What I can say is that we are in a situation [transfer ban] where we are working for the future.”
The Spain international has admitted that Chelsea hold the cards over what his next move will be.