Fabregas looks set to leave Barcelona this summer and is widely expected to return to the Premier League, with a host of clubs interested in signing the midfielder.
Former club Arsenal have first refusal on any transfer but reportedly do not wish to spend £30 million on their former star, and will not exercise any buy-back option.
Fierce rivals Tottenham have now emerged as shock contenders for the Spaniards signature according to reports in Spain, and Balague claims that it would be "fascinating" were he to move to White Hart Lane.
"Cesc Fabregas wants to go to a team where he will be a leader, everything will go through him and the manager will know exactly what he can add and Mauricio Pochettino is that kind of manager. It would be a fascinating combination," he said speaking to talkSPORT.
However, Balague adds that any move to Tottenham is extremely unlikely for a number of reasons, and the financial demands make it hard to see any deal taking place.
"Spurs must be convinced to spend €36 million on him and make him the best paid player, no doubt, and that doesn't sound like a Spurs signing. They would rather sell then buy someone of his age at that price.
“Fabregas and Pochettino would be a great combination, but I don’t think that would happen.”
The Fabregas transfer storm looks set to rumble through the summer, and Balague also added that "Arsenal don't want Cesc Fabregas" so the likes of Chelsea, Liverpool and Manchester United will be on alert.