Various English newspapers reported on Monday morning that the Gunners had made the audacious move for the Uruguayan forward.
A few days ago William Hill suspended betting on Suarez joining Arsenal after a flurry of bets – although the move still seems rather unlikely.
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Chelsea have struggled to build momentum in the opening stages of the campaign and are currently looking over their shoulders at the relegation zone.
Who of Europe’s top strikers will move to England this summer?