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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The reputation of the Premier League means it is the most popular and one of the most watched leagues in the world.
Five English clubs will compete in the last sixteen of the Champions League for the first time ever as Liverpool, Manchester United, Manchester City, Chelsea and Tottenham face some difficult away matches.