Liverpool owner John W. Henry has sensationally revealed that Luis Suarez did in fact have a £40million release clause on his old contract.
The revelation will infuriate Arsenal officials, who saw their bid of £40m plus £1 rejected last summer with Henry simply refusing to honour the contractual agreement.
Arsene Wenger's bid lies infamously in transfer history as one of the most baffling bids of all time.
The Arsenal boss had reportedly been tipped off about the release clause but, upon Liverpool's rejection, it seemed that information had been inaccurate.
Now the Liverpool owner has revealed that Suarez, who leads the Premier League goal scoring charts with 23 goals, should have been sold to the Gunners.
Speaking at the Sloan Sports Analytics Conference, Henry openly admitted his infringement when asked about Suarez's importance to Liverpool's future.
He said: "Luis Suarez is the top scorer in the English Premier League, which is arguably the top soccer league in the world.
"He had a buyout clause of £40m. Arsenal, one of our prime rivals – this year we’re tied for second … we’re actually second because of goal difference.
"They offered £40m plus £1. What we’ve found … is that contracts don’t seem to mean a lot in England – actually, in world football.
"It doesn’t matter how long a player’s contract is, he can decide he’s leaving.‘We sold a player, Fernando Torres, for £50m, that we did not want to sell, we were forced to.
"Since apparently these contracts don’t seem to hold, we took the position that we’re just not selling.
"It’s been great for Luis, it’s been great for us.
"We have three gentlemen up front Suarez/Sterling/Sturridge, [they] are young, I think Luis and those three could be together for a long time."
The news will be especially bitter for Arsenal fans as they saw their side slump to a 1-0 defeat to Stoke City at the weekend. A clear lack of cutting edge upfront could be blamed for the defeat.
Meanwhile Luis Suarez scored one and assisted two for Liverpool in a 3-0 win over Southampton, lifting them above Arsenal on goal difference.