Manchester City are set to launch the bidding with a £30m offer, as they look to bolster their squad ahead of the defence of their league title in 2014-15.
|WHERE SHOULD FABREGAS GO?
Liverpool, meanwhile, are also keeping tabs on the Spain international, with Brendan Rodgers emboldened in the transfer market by the Reds' qualification for the Champions League.
Chelsea and Manchester United are both in the market for a marquee midfielder and Fabregas is thought to be an option for the pair, as the Blues seek to replace Frank Lampard and Louis van Gaal sets about revamping the Old Trafford squad.
But where would he fit in best? Would a return to the Emirates suit him? Should he head to Manchester? Would linking up with Jose Mourinho work well? Or should he snub interest from elsewhere to join Rodgers' revolution at Anfield?
Have your say by voting in our poll and make sure you leave your comments below!