Cabaye is playing a bit-part role in the French champions' side under Laurent Blanc, and his form has dipped.
Which is strange considering how French players like Sylvain Marveaux and Mapou Yanga-Mbiwa never produced the goods in the English league but are seeing an upturn in form now they have left it.
Cabaye was a massive success at Newcastle, with some supporters claiming he was the best attacking midfielder they had seen since the legendary Tony Green. Praise indeed.
Cabaye to join Debuchy at Arsenal? It could happen!
But Cabaye left Tyneside for £19million in January, with add-ons for another £3million.
And at that price ... he won't be returning to St James' Park ... as long as Ashley holds the purse strings.
As far as Ashley is concerned, the Frenchman did his bit ... signed from Lille for £4,300,000 - moved to PSG for (what could be) £22,000,000.
Forget the influence the Frenchman had on the team, Ashley looks at through different spectacles.
Cabaye told L'Equipe: "You have to accept being a substitute, but I don't resign myself to that. In training sessions, I have to give my best and show my desire to play.
"When I am on the pitch, I feel it is not perfect and that I often have to leave too soon. But I know the coach and staff have to make choices and I respect that.
"Have I spoken to Laurent Blanc? No. What do I tell him? I am 28 years old and not new to the job. But I am not satisfied with the situation.
"Am I completely happy? To be honest, no. It is a new situation for me, but I don't complain. It is the first time I haven't played regularly for my club.
"With the French team, if one day the national team coach decides to play me less because I don't play often enough for my club, then I would need to take stock with my representatives."
Arsenal made a £10million bid for Cabaye before he left for PSG, and could be in the race to bring him back to England in January, but NOT at £19m.
When asked about an England return he said: "Do I sometimes miss England? Yes. Sometimes I think about it, but I immediately sweep that away because it would cause distraction."