Rodgers was unimpressed with Arsenal's valuation of the player, especially in light of the amount of money Paris St Germain paid to take Edinson Cavani from Napoli.
"It was an offer for what they (Arsenal) considered his value and worth," said Rodgers. "Obviously for a player of his quality, when you consider that Cavani has gone for £55m you know... Luis is up there in that bracket of top talent.
"Obviously it was an offer 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."
However, Suarez's advisors are convinced that the forward has a clause in his contract that stipulates he can leave if any club meets a £40m valuation.
The talk even in the Guardian was 50m would do it. We walked away.
Quite clearly the clause wasn't a bulletprood clause.