Both Real Madrid and Barcelona are said to be ready to pay that figure, which is the release clause written into the Uruguayan contract, and the Catalan club are reportedly ahead in the race for his services.
Player of the Year
Liverpool were forced to contend with a drawn-out saga involving Suarez last summer, but managed to fend off interest from Arsenal to retain his services. That proved to be a crucial move as the 27-year-old's goals fired the Reds to the verge of the Premier League title, while he also scooped the PFA Player of the Year award.
Last time round, Liverpool owner John W Henry reneged on what Suarez and his team saw as a contractual obligation by refusing to open transfer talks with Arsenal after they had offered more than £40 million - and will likely be just as resilient this time round.
However now the Sunday Times claims that Suarez will actively push for a move once more, with both Real Madrid and Barcelona waiting to pounce and apply pressure by offering his release clause.
The paper adds that while Real Madrid have a long-standing interest in the striker, Barcelona may hold the advantage because his wife's family live in the Catalan city. They also claim that Suarez is pushing for a move in part because of comments made by Liverpool boss Brendan Rodgers at the start of the season, when he claimed the club didn't miss Suarez while he was suspended for biting Branislav Ivanovic.
The former Ajax man offered a timely reminder of his ability with a brace to help knock England out of the World Cup on Thursday, despite not being fully fit.
Afterwards he revealed that he had "dreamt" of scoring against England in order to extract revenge on his critics over the past few years.
Liverpool are unlikely to consider any offers for their best player and will attempt to fight off any interest in him.
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