Cesc Fabregas would be a prime example of Wenger's ability to pick out quality young talent. If Sarabia is half as good as Fabregas I'm sure the Gunners faithful will be chuffed because the way in which the young Spaniard has played this season is nothing short of amazing. Sarabia is too young to be offered a professional contract in Spain and Wenger is poised to make a move.
Sarabia is currently plays for the Real Madrid youth team and is very highly rated by Madrid officials. It would be very interesting to see, if Wenger were to sign him, how he would might adapt to the English game over the next four or five years. I'm sure several other top clubs may try and make an approach now that Wenger has shown an interest, because he is very rarely wrong about young talent.