Arsene Wenger has insisted that 'Cesc Fabregas is not for sale'.
The Spain midfielder has been linked with a return to his homeland after Real Madrid's new president Ramon Calderon declared his interest in the 19-year-old.
Wenger, however, has moved to quash the speculation.
'I would like to make it clear that Cesc Fabregas is not for sale and we will not be listening to any offers for him,' he said.
'Since making his first-team debut nearly three years ago, Cesc has progressed remarkably well, with his performances rightfully earning him a place in the Spain World Cup squad.'
Wenger told the club's official website: 'At 19 years old, Cesc represents the future of Arsenal Football Club and we are looking forward to him being a major part of our plans for many years to come.'
The Gunners, meanwhile, have themselves been linked with a move for Argentina striker Javier Saviola.