The Gunners have already seen two bids for the Uruguay international turned down - the latest being £40,000,001 - and the report suggests that Liverpool will be bracing themselves for a third offer believed to be around £42.5m.
Suarez has featured for Liverpool during their pre-season tour as his future at Anfield continues to be one of the main talking points of the summer.
The striker wishes to move on from Liverpool, but manager Brendan Rodgers along with principal owner John W Henry have made their stances clear and are refusing to sell their prized asset.
Last week, Wenger revealed he is willing to wait on his transfer targets, and having already missed out on Gonzalo Higuain after the Real Madrid man signed for Napoli, the Express believes that Wenger will attempt to get Suarez for less than the £50m-plus Liverpool are demanding for him.
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