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Jamie Carragher has praised Liverpool FC’s hardline stance over the Luis Suarez saga – but has warned it’s a wake-up call as they target Champions League qualification this season.

The Kop legend, who retired back in May, has watched with interest as events have unfolded at Anfield in recent months.

Carragher believes the Reds were right to reject Suarez’s pleas to join Arsenal, who had an improved offer of £40million plus £1 turned down.

Principal owner John W Henry is adamant that the Uruguayan won’t be sold to anyone during the current transfer window and Carragher insists that’s the right call – despite the dangers of keeping an unhappy player against his will.

In pictures: Suarez transfer saga quotes

“I think Liverpool have handled it very well,” he said.

“Luis is under contract so it’s up to the club to decide whether a deal gets done.

“The manager said earlier in pre-season that everyone has a price but no-one has met that for Suarez.

“There’s talk of Gareth Bale leaving Tottenham for £100million and there’s not much difference between Luis and Bale as players.

“Those two, alongside Robin van Persie, were the best in the league last season. There wasn’t much in it for Player of the Year and for me Luis edged it. If the Ivanovic situation hadn’t happened he might have won it.

“Of course it’s not easy keeping someone who wants out. We had that situation before with Fernando Torres and Javier Mascherano. It is difficult at times but what do you do?

“Do you just let another club come and take one of your best players for a price which doesn’t tally with what he’s worth? That’s not right either.

“Liverpool have said he’s not for sale and Luis has to put his head down and get on with it.”

*Carra on LFC letting Reina go

In pictures: Luis Suarez at LFC

Suarez’s desire to quit Anfield for the Emirates has highlighted the problems Liverpool face during their continued absence from the Champions League.

As well as his prolific striker demanding a move, this summer has also seen boss Brendan Rodgers struggle to attract his top targets without the lure of European football.

Carragher says that situation will only change when Liverpool have broken back into the top four.

“Top players want to play at the top level,” he said. “The unfortunate thing for the club at the moment is that we’re not at that level.

“The fact Luis has been talking about the Champions League is understandable.

“You can say Liverpool have stood by him through difficult times and he needs to repay that, but we’re naive if we think players think like that.

“If it was Real Madrid he wanted to join it would be more accepted, but the fact it’s Arsenal makes it more difficult to take.

“What Liverpool have found is that when you’re outside the Champions League, teams in it think they can come and take your best players.

“People talk about the problem of signing top players, but it’s people coming and taking your best players which is the real issue. Champions League football turns heads.

“I’d love to see him (Luis Suarez) stay put for another year and get Champions League football by firing Liverpool into it.”

In pictures: Jamie Carragher's LFC career

Despite the uncertainty, Carragher has been impressed by what he’s seen from Rodgers’ side in pre-season.

With a couple more additions to the squad, the new Sky Sports pundit is bullish about the Reds’ chances of improving significantly on last-term’s seventh-placed finish.

“Pre-season has been very good,” he said. “But I still think they need one or two more signings if they want to get into the top four.

“Obviously the manager has been trying to bring in another attacking player and I’d still like to see one maybe in my old position at centre-back.

“They would need a couple of additions before I was that confident they will finish in the top four.

“Having stability compared to the changes at other big clubs over the summer should work in their favour but they’ve still got to do the job on the pitch.

“Brendan came in and had a good first season but it needs to go on to another level this season – both in terms of the league position and the domestic cup competitions. We need to see a bigger and better season.”