“There are negotiations in place but I don’t know how fruitful they will be,” Cerezo said to the Spanish media. “Filipe Luis is a magnificent player. “We would be delighted if he comes back and I think that in the end, we will find a solution. “As always, the financial aspect takes precedence over the sentimental aspect but I believe a deal can be reached.” Filipe Luis, 29, may have to consider a pay cut if he is to return to Atletico. The South American made 127 appearances for Atletico and won the Europa League and Copa del Rey as well as the Primera Division title during his time with the Rojiblanco outfit. Atletico finished third in La LIga last season and have strengthened their squad this summer by signing Argentinian striker Luciano Vietto, Belgium midfielder Yannick Carrasco and Colombian forward Jackson Martinez. The Brazil international joined Chelsea in a ₤15.8million transfer last summer after four seasons at Atletico and is under contract with the Blues outfit for another two seasons. Filipe Luis made just nine league starts for the Premier League champions this past season and is reportedly keen to return to Spain. Press Association Atletico Madrid president Enrique Cerezo has revealed his club is in talks with Chelsea regarding left-back Filipe Luis’ possible return to the Vicente Calderon stadium this summer.