The Telegraph says he is unlikely to sanction the departure of Nasri to another Premier League club if he has already lost Fabregas.
Sources in Italy have also confirmed the interest of AC Milan in Nasri and, while Wenger has still not given up hope of persuading the 24 year-old to sign a new contract, he would be more comfortable with one of his most prized assets moving to a club outside of England.
Nasri has entered the final year of his contract and so could potentially leave for nothing next summer. It places Arsenal in a difficult position, particularly as Manchester United are believed to be preparing an offer of £20 million. Manchester City's interest in Nasri is likely to develop if they fail to sign Alexis Sánchez from Udinese.