Atletico Madrid president Enrique Cerezo has joked that he rejected an approach from the Argentine Football Association (AFA) to discuss the possibility of Diego Simeone becoming the new national team coach.

Argentina are still reeling from their Copa America Centenario final defeat to Chile and the subsequent retirement of Lionel Messi.

It was confirmed on Tuesday that current coach Gerardo Martino would remain in his position for the Olympics, despite suffering penalty heartache at the hands of Chile for the second time in as many years.

But questions remain over the former Barcelona boss's long-term future and Simeone has been mentioned as a potential target.

Cerezo took a light-hearted approach to the speculation, quipping: "The AFA called me regarding Simeone [about coaching Argentina] and I told them no."

Simeone has built a reputation as one of the best coaches in the world having guided Atleti to the Liga title in 2014 and to the Champions League final in two of the past three seasons.