The Catalans were heavily linked with a €40 million move for the 23-year-old last summer, only to find the Gunners unwilling to do business.
Reports in the Spanish media claim that Barca coach Pep Guardiola will go back in for Fabregas this summer, but Rosell will not pay over the odds for his signature.
"Barca is not disposed to pay €50 million (£43.9 million) for Cesc Fabregas this summer," Rosell told Catalan newspaper Sport.
"That is decided and, although Guardiola demands this player, we will not pay this amount.
"It is impossible due to a simple reason. In football, prices are reduced every year and, if were offered Arsenal €40 million (£35.1 million) last summer, €50 million is now impossible.
"If the coach demands Cesc, we will negotiate with the Gunners, but at a correct limit and without madness and, if the operation is not possible, we will wait for other opportunities.
"Our relationship with Arsenal is not good [after last summer]. The issue has not pleased us."
Barcelona's stance could be further complicated by the precarious financial situation at the Nou Camp.
The club posted losses of £65 million last season, taking their overall debt to around £272 million.
"The future of Cesc is in his hands and we would only negotiate with Arsenal is Guardiola insists. Only with any sale is it possible to increase the money for negotiations," added Rosell.
But reports that suggested Arsenal boss Arsenal Wenger would consider a deal for Fabregas that involved Ibrahim Affelay coming to the Emirates appear to be wide of the mark.
"Affelay is a young and gifted player, but he won't be part of a deal for Cesc going to Barca," an Emirates source told the Daily Star.
"Arsene's firm on this and Cesc won't be leaving in the summer - despite rumours to the contrary."
By James Martini
