The Sunday Mirror reports that the 24-year-old may be one of several players who could leave the Emirates Stadium this summer.
Fabregas was keen on a return to Barcelona last summer but manager Arsene Wenger persuaded him to stay at Arsenal.
Reports claim Wenger will use the cash to supplement his £50million transfer kitty.
Wenger is also prepared to let Gael Clichy and Samir Nasri leave, if they do not sign new deals with the club.
Nicklas Bendtner, Emmanuel Eboue, Denilson and Carlos Velas could also be allowed to leave the Gunners this summer.
