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Arsenal chairman Peter Hill-Wood had said the club would not sell prize asset Cesc Fabregas for £100 million.
The Gunners saw Alexander Hleb and Mathieu Flamini leave the club in the summer and also feared the exit of Emmanuel Adebayor.
One player not seriously linked with a move away was Fabregas and Hill-Wood insists that even if Real Madrid or Barcelona come with a bid worth almost double the current world record.
"I don’t think for us to sell our best players for almost any figure makes any commercial sense for us,” Hill-Wood told the Sunday Telegraph.
“We don’t have to. If someone gave us £100m we’d have to pay 40 per cent tax on the damn thing and what the hell are we going to do with the extra £60m?
"I’d rather have a couple of good players. We will resist any overtures that are made for any of our star players.”
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