The former Romania international insists that the 34-year-old has already signed a pre-contract with Al Arabi.
If reports from Romania are to be believed then Xavi stands to earn £6 million a season if the transfer is completed.
Speaking to Digisport, Petrescu said: 'Xavi signed a pre-contract with Al Arabi. There were probably other offers from other teams.'
Xavi has spent his entire career with Barcelona but it now seems his time with the Catalan club is coming to an end.
Cesc Fabregas' departure to Chelsea along with potentially Xavi's could well spell the end of Blaugrana's tiki-taka philosophy and perhaps signal a new approach.
The interest in Atletico Madrid's Koke however, who has been deemed Xavi's hier apparent, would suggest that is not the case.
Indeed the recent speculation surrounding Koke would give credence to the product of La Masia leaving Camp Nou sooner rather than later.
Wherever Xavi ends up Barcelona will be losing not only a tremendous player but an icon to rank alongside the club's greatest.
Alongside Iniesta he has symbolised this generation's view of what the beautiful game represents.