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Liverpool FC have rejected an improved offer of £40,000,001 from Arsenal for Luis Suarez.

The Gunners stepped up their pursuit of the Reds' top scorer on Tuesday – two weeks after their initial bid of £30million, rising to £35million with add-ons, was shunned.

The size of the new offer, which was submitted by Arsenal chief executive Ivan Gazidis, is significant.

The Londoners were under the belief that any offer in excess of £40million – hence the extra £1 – would trigger a release clause in the contract Suarez signed last August.

However, Liverpool have always insisted that is not the case with club officials only duty bound to inform the striker of bids exceeding that amount rather than having to actually accept that kind of figure.

The bid has already prompted an extraordinary response from Reds owner John Henry on Twitter.

Boss Brendan Rodgers intends to discuss Arsenal's latest approach with last season's 30-goal top scorer following today's friendly with Melbourne Victory at the MCG.

Arsenal's new offer was instantly dismissed with Liverpool's stance that Suarez is simply not for sale unchanged.

Despite Suarez's public pleas for a transfer this summer, Rodgers has made it clear that he expects the 26-year-old to honour a contract which still has three years to run.

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The Reds value the striker in excess of £50million and unless they receive that kind of bid - coupled with a written transfer request – they won't even consider a deal.

Arsene Wenger has made Suarez his top summer transfer target after being frustrated in his attempts to sign Gonzalo Higuain from Real Madrid.

But news of their increased offer being rejected should finally ram home to the Gunners boss that there is no chance of landing Suarez on the cheap.

Suarez had initially claimed he needed to quit England because of his treatment at the hands of the media, but later said he was “flattered” by Arsenal's interest and told Liverpool he wanted to join a Champions League club.

In pictures: Newspaper back pages as LFC reject Arsenal's Suarez bid

The striker has been training with the Reds since he rejoined the squad in Melbourne on Sunday.

Suarez received a warm ovation from the 15,000-strong crowd who attended yesterday's open training session at the MCG.

His name was chanted by supporters and he has indicated a desire to be involved in today's friendly.

Meanwhile, Liverpool have contacted Valencia to express their interest in signing left-back Aly Cissokho on a season-long loan.

The Spanish outfit are willing to off-load the 25-year-old France international, who joined them from Lyon a year ago.