The Gunners are prepared to pay more than the £50m Liverpool received from Chelsea for Fernando Torres in January 2011.
Arsenal made a £40,000,001 offer last week believing it was enough to trigger a buyout clause in Suarez's deal.
Boss Arsene Wenger is well aware a wrangle over the wording of the contract is sure to involve lawyers and could run on for months - ensuring they do not get their man in this transfer window, which closes on September 2.
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