The Gunners bid £40 million plus £1 to try and activate the strikers release clause but Liverpool have still rejected the bid.
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Liverpool have rejected a £40 million plus £1 offer from Arsenal for striker Luis Suarez, BBC Sport reports.
The unusual bid was designed to activate Suarez release clause but the Reds have still turned the offer down.
The terms of the strikers contract state that if a £40 million bid is received, Liverpool must consider it and inform the player of it but crucially they don’t have to accept the offer.
This is now the second bid that Liverpool have turned down from Arsenal but the Reds maybe more tempted to accept if the bidding gets much higher.
Liverpool are in no rush to sell Suarez as the strikers contract still has three years remaining on it and recently Brendan Rodgers stated that he considers Suarez to be at least as valuable as Edinson Cavani, who joined Paris St Germain last week for £55 million.
Real Madrid are also understood to be interested in signing the striker but have yet to formally approach Liverpool.
A move to the Spanish capital is thought to be Suarez preferred destination and Los Blancos could make a move for the Uruguayan if they manage to sell Gonzalo Higuain to Napoli.
Although Arsenal will be disappointed that they have failed in their bid, they maybe ready to go back to Anfield with an improved offer as the Gunners reportedly have their biggest ever transfer budget to spend on players this summer.