There had been suggestions that Suarez would use Premier League arbitration to resolve the dispute after Arsenal bid £40,000,001 for the player.
The Daily Mirror report that after Suarez accepted the situation, Arsenal will have to stump up close to £50 million to land the Uruguayan.
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Summer 2016 is set to be a very exciting time for football fans, as this is when the long awaited Euro 2016 tournament kicks off.
Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.