Liverpool owner John Henry has insisted that the club “are not going to sell” Luis Suarez, the Mirror understands.
The Reds have so far rejected both of the Gunners bids for the Uruguay striker, though his behaviour and attitude throughout the close season seemed to have made his position at Anfiled untenable.
However, Henry has rejected claims that his club will part company with the 26 year old.
He said: “I’m unequivocal that we won’t sell to Arsenal, whatever the bid is. He won’t be sold even if a foreign club come in because we do not have time to sign a suitable replacement.”
Meanwhile, Jay Spearing has completed his £1.75m move to Bolton Wanderers, ESPN understands.
The 24 year old has signed a four-year contract at the Reebok Stadium, where he spent the majority of last season on loan.
He scored twice in thirty-seven appearances for the Trotters last season, and was named their Player of the Season.
Elsewhere, Valencia’s Aly Cissokho has said the he has agreed to join Liverpool, though the clubs are still negotiating terms, TalkSport understands.
The Reds are keen on agreeing a loan deal for the left-back, though the La Liga said would prefer a permanent sale.