The Gunners recently had a £40 million bid rejected by Liverpool.
Arsenal are set to make a third bid for Liverpool striker Luis Suarez, thought to be in the region of £42.5 million, the Daily Mirror reports.
The Gunners have made Suarez their main transfer target this summer and Arsene Wenger remains convinced that he will get his man before the Emirates Cup which takes place next weekend.
Suarez is desperate to leave Liverpool and reports suggest that he is considering handing in a transfer request to force through a move to the Emirates.
The Uruguay international is desperate to move to a club that is playing in the Champions League and is convinced that Liverpool won’t be competing for a place in Europe’s top football competition anytime soon.
Arsenal are hoping that their £42.5 million offer for Suarez will test Liverpool’s resolve, with the Reds repeatedly stating that they are looking for around £50 million for the want away striker.
However, Red manager Brendan Rodgers knows that it is unwise to keep an unsettled player around the team for any length of time and may just decide to cut his losses on Suarez and accept the Gunners bid.
It is believed that Suarez preferred destination is Real Madrid but the Spanish giants have yet to submit a formal offer for the striker.