Unai Emery previously worked with the Spaniard when he was on loan at Sevilla back in 2014/15 and he would represent a pretty cheap addition to the squad.
However, with Arsenal's current lack of financial resources, they want to take the 25-year-old on loan initially.
But Barca are not happy with that proposition and are demanding a fee between €20-25m in this window.
As such, a deal is looking less and less likely, with Spanish football expert Guillem Balague tweeting about the current standing of negotiations this morning.
He doesn't think a deal between the two parties is likely anymore, but that didn't stop Barca omitting Suarez from the squad to play Sevilla tonight in the cup.
New signing Kevin-Prince Boateng has been included after completing his surprise move from Sassuolo.
So why the decision to drop Suarez? Well, according to Catalan publication Sport, Barca are trying to force the Spaniard to accept one of the other deals they have received for his services.
The Blaugrana essentially want him to accept any of the deals other than Arsenal, suggesting that an outside party has met their financial demands.
Balague then posted another tweet on the matter after learning of Suarez's absence from the squad.
BALAGUE WEIGHS IN AGAIN
He wrote: "Interesting twist... Denis left out of the Copa game and it is being suggested that he might be out of the Girona game at the weekend too. Is #FCB trying to change his mind? Are they telling him he wont have many minutes? Other offers on the table but he wants AFC or stay."
It looks as if Suarez will not bow to Barca's demands and he now runs the risk of even less first-team minutes for the rest of the season.