Liverpool will reportedly be willing to discuss the transfer of Luis Suarez with Arsenal, provided the Gunners offer £40m for the striker.

The North London outfit had a £30m bid rejected for the Uruguayan earlier this week and were considering making an improved offer for him.

Liverpool are holding out for at least £40m for the forward, who scored 30 goals last season, and a suitable offer from the Gunners will see the Reds willing to enter into discussions, according to The Mirror.

Real Madrid are also keen on the former Ajax forward, who signed for the Reds in 2011.