Since then the Spaniard has become a vital part of the Arsenal side and is regarded as one of the best players in the world in his position.
"It's nothing to do with money - if it was I would have gone to Real Madrid last summer," he added.
"I am not moved by money, I am moved by football.
"I am playing and I am happy. Being a Gunner is very special, something that I am proud of.
"This is a small club on the inside, like a family, but it's huge on the outside."
Fabregas admits the sale of star striker Thierry Henry to Barcelona this summer had a massive effect on the Arsenal youngsters.
"Thierry Henry is the best player in Arsenal's history and that's why people panicked when he left, " he added. "It was like having to mature all of a sudden, a wake-up call.
"He was like an umbrella that we hid beneath and when he went, we were forced to step forward and take responsibility."
Fabregas will miss Arsenal's next match against Wigan on 24 November after collecting his fifth caution during the win at Reading on Monday.
