Talks between Arsenal and Barcelona are ongoing as the two clubs attempt to come to an agreement over a fee for Fabregas. And Wenger admits the Spaniard's future must be resolved as soon as possible after confirming he will play no part in this weekend's Emirates Cup.
Wenger said: "Fabregas will not feature in the Emirates Cup. He is not settled, with his injury and his situation. That has to be sorted out soon. Cesc is torn between two loves. I can understand that but we want to be certain about his commitment.
"I'm just worried that the player has to be completely focused and committed to our club. At the moment he's coming back from an injury and we have to sort out that situation. He is the captain of our club and we have to make sure he is really focused on being with us.
"I think he's in a moment when he thinks about it and it is a big concern. It has to be as well that the three parties agrees and that everybody is happy at the end. If there is only two who are happy and one is very unhappy it doesn't work.
"We have a responsibility towards our club and I have that responsibility to sell the players at a decent price. Or I take money away from my club. And that is not just to please one player.''
With regards Nasri, whose contract expires next summer, Wenger is determined to retain the Frenchman's services, despite Manchester City's interest and the risk of losing him on a free transfer in 2012.
He said: "My wish is that Nasri stays. I'm convinced he is going to stay at Arsenal."
Wenger also expects any transfer business to be done "sooner rather than later", amid reports of offers for playmaker Mata and centre-back Jagielka.
"Jagielka is under contract and we must first have an agreement with the club. I like Mata but that doesn't mean I will buy him," Wenger said.
There was positive news for the Gunners on the fitness of Theo Walcott, whose ankle injury is "better than expected" and should only be sidelined for 10 days.