Ronaldo is looking for a way out of Manchester United after the club failed to qualify for next season's UEFA Champions League; a competition he continues to thrive in as its all-time top scorer.
The 37-year-old has been linked with a number of clubs, including Chelsea and Bayern Munich but Atletico Madrid are the latest club to be credited with an interest.
Ronaldo enjoyed a nine-year spell with Atletico's city rivals Real Madrid, where he is the club's all-time top scorer with 450 goals.
He has clashed with Atletico Madrid fans in the past while playing for Real and Juventus, and club president Enrique Cerezo has denied any links to the five-time Ballon D'or winner, telling COPE: "I don't know who invented this story about Cristiano Ronaldo to Atletico Madrid.
"It's definitely not true. It is practically impossible for him to come to Atletico Madrid."
Atletico fan group, International Union of Fan Clubs (Union Internacional de Peñas Atletico de Madrid), have doubled down on their president's pronouncements and gone further to reject any move for Ronaldo.
"In light of the possibility of signing Cristiano Ronaldo, if it is more than a simple rumour without any basis, we express our absolute rejection of his hypothetical joining of our club," a statement from the group read.
"The aforementioned player represents the antithesis of the values that constitute the hallmarks of our Atleti, such as the effort, generosity, modesty and humility of those who want to defend our values.
"Even in the highly unlikely hypothetical case that a player in steep decline such as Cristiano Ronaldo could guarantee us a trophy, we wouldn't accept his signing.
"The sense of being a part of our Atletico feeling isn't within his reach, unfortunately for him, and as such he could never receive our affection or recognition.
"As such, we ask the club to reject his possible signing, if it has indeed been considered at any time."
