Suarez had scored 30 goals in a complete season, and Arsenal needed those goals. They tried to intervene in a relationship that was visibly turning sour as Suarez called for a transfer move through media columns registering his disillusionment with the English media. The appeal was clearly meant as an invitation to Spanish or German clubs, but Arsenal were the first to react. Suarez agitated for the move, but Liverpool took the call that they wouldn’t let go such an asset to a domestic competitor.
Arsenal made a cheeky bit of £40,000,001 believing that that would invoke a release clause only to be rebuked by Liverpool owner in an even cheekier manner. Arsenal’s pursuit led to a hardening of the Liverpool stance on the player as Suarez was disallowed from training with the squad. Arsenal would rue their failure to up their bid at that critical stage (and in fact Arsene Wenger has conceded that it was a mistake) which might have allowed them to catch a top player on the cheap!
Given that Suarez has now signed a new long term contract and is even more lethal (already approaching the 30 goal tally), it would take a Gareth-Bale-type bid to lure the player away from Anfield.