Cesc Fabregas Transfer Rumours: Barcelona's Latest €38 Million Bid Rejected

Arsenal have rejected a bid from Barcelona today, according to SkySports.com.

Barcelona's pursuit of Arsenal's captain has been a continuing saga for a few seasons now, but this season seems to be the one where the Spanish midfielder might really move to his boyhood club.

Last season, Arsenal told that their captain was not for sale, immediately ending transfer speculations. This year, after another trophy-less season, Fabregas was keen on a move to Barcelona, so Arsenal seemed ready to accept offers for the European champions.

Arsenal have evaluated their Captain at around £40 million (€45 million), but Barcelona have not come close to Arsenal's valuation.

The Catalan club's latest offer is reported to have been €29 million plus €6 million in future add-ons whilst Fabregas was also believed to be putting a €3 million sum towards the move.

But the overall package—worth €38 million—is still some €7 million short of what the Premier League club are demanding.

With the transfer window entering its last month and the European qualifier for Arsenal against Udinese coming up in less than two weeks, Barcelona will have to come up with a bid closer to the Gunners' valuation if they want to get their man.