Reports emanating from Spain suggest Madrid president Ramon Calderon has lined up a big-money move for the 21-year-old after appearing to have missed out on signing Manchester United superstar Cristiano Ronaldo.

But while Fabregas, who joined the Gunners from Barcelona's youth set-up, revealed he could move to the Bernabeu in the future, he insists he is happy at the Emirates Stadium for the time being.

"I didn't tell Ramon Calderon no," he said.

"I told him that now wasn't the time to go to Madrid.

"That you are wanted by Madrid, one of the biggest teams in history, is important."

And the young star, who helped Spain lift their first piece of silverware in 44 years after beating Germany in the Euro 2008 final, admits that another trophy-less season with Arsenal could see him exit the London outfit.

"To be four seasons without winning any titles would be too much for me," Fabregas added.

"Real Madrid are the favourites to win La Liga this year."