(CNN) -- Barcelona coach Pep Guardiola says a deal to sign Cesc Fabregas may be scuppered by Arsenal's reluctance to sell their captain.
Arsenal have already rejected a $45.6 million bid from the Spanish champions and Gunners manager Arsene Wenger has demanded an end to speculation over the transfer.
Fabregas, 23, was a product of the Barca youth scheme before leaving to join Arsenal at the age of 16.
"He is a very important player for Arsenal and I understand that he will cost a lot of money," Guardiola told reporters on Monday, AFP reported.
"It is Arsenal who are in charge (of this deal) and if Arsenal don't want it, he will not come."
Fabregas has been publicly urged to join Barca by several of his Spain teammates and was embarrassingly forced into wearing the Catalan side's shirt as they celebrated their World Cup triumph in Madrid.
But he held talks with Wenger before the World Cup and has not agitated for a move.
Barcelona president Sandro Rosell said Friday that Arsenal's determination to keep Fabregas may delay the deal for another season.
Barcelona have already completed the big-money purchase of Spain World Cup hero David Villa from Valencia this summer and on Friday sealed the signing of Brazilian utility player Adriano from Sevilla.
Arsenal have not won a trophy since 2005, while Barca won the European Champions League in 2009 and the Spanish league the past two seasons.