No, definitely - I agree with you, if he wants to leave - listen to what Barca has to offer. It it doesn't meet your valuation, I'm sure all the parties will understand what that means.
Without question Cesc loves both Arsenal and Barca and has utmost respect for both (fans and club alike), so I am sure he won't hold Arsenal to ransom, and not expect Arsenal to hold Barca to ransom. For Arsenal's part, they can argue that on current market valuation, they feel with a 5 year deal still to run, they are entitled to X amount - it might meet what Barca want to pay, it might not.
I think that it is trivial for a player's future to be decided over monetary issues, but I fear that is the only way to keep some perspective here and a decent and way for Arsenal to deal with and replace arguably the most valuable player in their squad (money wise and football wise). I think they will be seeking due compensation to decently strengthen a squad that would be weaker if Fabregas is sold. They are entitled to it, and within the laws of the game, they will hold firm with Fabregas and Barcelona.
Like I said in another post, no one would want this to get ugly, as Cesc has been tremendous for Arsenal, with mutual respect in hand, but the club comes first. They should do what is best for Arsenal and Arsenal alone. If it is too much for Barca, they will do what is best for them and either pull out, or up their bid.
We'll have to wait and see within the next 10 days we should have a clearer understanding.
unless we have evidence that Cesc hands in a official request these are all nothing but rumours 
