Liverpool manager Brendan Rodgers has told Arsenal that they must increase their bid if they want to sign striker Luis Suarez.
The Uruguayan has been linked with a move to the Gunners over the past few weeks, and the 26-year-old is believed to be keen on the switch despite the Reds rejecting two bids from the North Londoners.
While the second offer weighed in at just over £40m, Rodgers is adamant that Arsenal must fork out more if they want the forward.
"If Arsenal want the player, then they have to produce the value for the player," Rodgers told reporters in Australia.
"There was an offer a few weeks ago of £35m and two weeks later it is now £40m and a pound - I don't think it is anywhere near the value of what he is worth.
"But it is twofold, really. A player may want to go, but then somebody has to pay the value or worth of that player."
Suarez made an 18-minute substitute appearance for Liverpool during their 2-0 win over Melbourne Victory in a pre-season friendly on Wednesday.