The Frenchman has opted against activating the buyback clause in the Spaniard's Barcelona contract, paving the way for the 27-year-old to join Chelsea or Manchester City.
Arsenal and the club's fans really should be immune to it by now. The sight of a former player raising silverware in rival colors has become the norm but the thought of Fabregas embracing Mourinho, flashing a winning smile side by side with John Terry will sting like nothing else.
When Robin van Persie was sold to Manchester United for 24 million pounds with less than a year remaining on his contract it represented good business for the selling club, some argued. When Samir Nasri was sold for an equally princely sum, the club was ridding itself of a supposed troublemaker, while few begrudged Fabregas a return to his boyhood club after seven years of sterling service in north London.
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That celebrated trio have since gone on to amass four league titles between them in three years, evidence enough to suggest there is simply no way of sugar-coating Arsenal’s recent help-yourself sales policy.
In this instance Arsenal might not be selling Fabregas directly to one of its Premier League adversaries, but by opting against activating the buyback clause the club was determined to insert in the Spaniard’s Barcelona contract, the Gunners are displaying the lack of ruthlessness and ambition, Mesut Ozil aside, that has characterized their recent efforts in the transfer market.
The contrast between ambivalent Arsenal, which has forfeited the opportunity to build on the harmony and euphoria created by last month’s FA Cup triumph by signing one of Europe’s premier midfielders, and relentless Chelsea, which has opportunistically set about replacing the 200-goal sized void left in the midfield after Frank Lampard’s departure with purpose and clarity, really could not be greater.
Wenger cannot allow sentiment to cloud his judgement, but there is no doubting this current Arsenal squad would be better equipped to challenge for the Premier League title with the team's one-time captain restored to his former home. Regardless of priorities, budgets and the circumstances of his exit the first time around, Fabregas would improve this Arsenal side and that really should be the Frenchman’s only consideration.
Arsenal is well stocked with creative midfielders, of course, but Aaron Ramsey, Jack Wilshere and Alex Oxlade-Chamberlain, for all their undoubted potential and ability, are yet to prove they are capable of lasting course and distance in a Premier League season. Santi Cazorla turns 30 later this year, Tomas Rosicky is already 33 and Abou Diaby is now sadly a parody of himself, almost permanently injured.
Ozil, of course, is the great hope and it is his position that would be threatened, potentially undermined, by the return of Fabregas. But competition for places is a reality of elite level sport and if the German is unable to contend with that pressure – the way he flounced out of Real Madrid and his performances for much of last season suggest that might be the case - then Wenger should be ruthless enough to deem him not fit for purpose, as Mourinho has with the likes of Juan Mata, David Luiz and Kevin de Bruyne.
There are plenty of gaps that need filling in this current Arsenal side, with a new striker, replacement for Bacary Sagna, a backup center half and goalkeeper, as well as a wide forward required to complete the jigsaw. With £100 million to spend all of that should be attainable with money still left over for Fabregas.
The reality, however, is that Arsenal has passed up on the chance of signing a genuine world-class player who would improve the team, boost morale and disrupt the plans of several of the club's main rivals.
It is far too early for Arsenal fans to press the panic button but the fear will be that a failure to even register an interest in Fabregas will set the tone for another summer of dithering, derisory bids and long-winded sagas.
The FA Cup victory and Wenger’s renewed commitment means there is plenty of goodwill in the bank to sit alongside Arsenal’s growing cash reserves, but neither the manager nor chief executive Ivan Gazidis can afford to squander either should their gamble in ignoring Fabregas come back to bite them.