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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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.