Suarez transfer to cost Arsenal 55 million pounds

London: Premier League Club Arsenal will now have to pay 55 million pounds for Luis Suarez, as the Uruguayan striker rules out approaching the Premier League for arbitration, after knowing that his contract does not leave Liverpool an obligation to sell him at any price.

Gunners` boss Arsene Wenger had indicated he was ready to dig in and wait to see the outcome of a contract dispute between the striker and Liverpool, after submitting a bid of 40 million plus one pounds, which was supposed to trigger a release clause. The report said that with the 26-year-old under contract for another three years, manager Brendan Rodgers and the Reds` board are determined to keep him unless their valuation, thought to be around the 55 million pounds Paris Saint-Germain paid Napoli for Edinson Cavani, Suarez`s Uruguay strike partner, a fortnight ago, is matched. A source close to the club`s American owners explained on Tuesday that lawyers have examined Suarez`s contract in detail, and have concluded there is no requirement to sell in the event of a bid topping 40 million pounds, merely a commitment to inform the player of any such approach, the report added. While Suarez has indicated to Arsenal he is prepared to agitate for a move, he has stopped short of submitting a transfer request, the report further said. ANI