The Portuguese boss has threatened to drive a hard bargain if he is to be open to Chelsea selling the goalkeeper to their London rivals.
Chelsea boss Jose Mourinho has made it clear to Arsenal or any other club interested in Blues hero Petr Cech, that they will probably have to include a player of their own in return in order for a deal to be pushed through.
In comments appearing on the Setanta website, he said in response to a question on the goalkeeper's future: “My answer is not important because the owner is the owner, he is the person with the perspective I admire a lot, respect a lot.
“He respects a lot of people who do important things for him. Since 2004 to 2014-15, Cech has had 10 years of success with the club, 10 years of unbelievable behaviour. I will have to accept any decision that the owner has.
“I’m different. I have the same respect for Petr that everybody at the club has, but my answer [to a proposed move to Arsenal] would be: ‘No way.’ If the answer is different I will accept that. But at every club that is interested in Petr, I can find a player that I like in that team, too.”
The former Real Madrid manager has had intricate transfer negotiations with Arsenal before, when the West London club completed the controversial signing of Ashley Cole in 2006. As part of that high-profile deal, the Gunners received William Gallas, a player who Mourinho wanted to keep but could not guarantee the central defensive football the Frenchman wanted.
It is likely now that Mourinho will be the one making demands as to what Chelsea get back in return in order to sweeten the deal, with Cech still thought of as one of the top five goalkeepers in the world.
The 32-year-old is one of a handful of players that Mourinho has valued for much of his coaching career, however, like he has done in the two seasons since he took charge once more at Stamford Bridge, he has proved that he is willing to allow figures who have contributed so much to the club to leave on their terms.
Frank Lampard and Cole last summer, and Didier Drogba this June, all left Chelsea with Mourinho's blessing after they reached the twilight of their careers.
Though he said in the interview that it will be Roman Abrahovich who ultimately makes the decision, you can be sure that the Chelsea boss will be emphasising that the Blues need something back if they are to strengthen their rivals so significantly.
And that, for Arsene Wenger and Gunners fans, may signify some fairly major compensation.