Goal reported on Friday that Arsenal are preparing an improved offer for the former Groningen and Ajax striker worth up to £40m, but that still falls some way short of the fee Napoli received for Suarez's countryman Cavani.
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"When you consider that Cavani has gone for £55million you know... Luis is up there in that bracket of top talent," Rodgers told the Liverpool Echo.
"Obviously it was an offer [from Arsenal] we didn't deem worthy of the talent and even if they came back with that kind of amount [£55m] there's no guarantee he would be sold even for that because we are trying to build something here."
"We are totally in control of the situation, it is one where we don't have to sell," he added. "He has got three years left on his contract.
"We are prepared to get some players in and spend money without having to sell Luis Suarez."