And now a video has emerged from 2014 which shows Perez explaining to a young supporter why Suarez would have been a bad buy for Los Blancos.
The fan approached Perez and asked him to sign Suarez, who was with Liverpool at the time, to which the Real Madrid chief - per Spanish newspaper Sport - instantly responded: "Suarez is not a very good player". (Scroll down this page to see the video - in Spanish).
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Suarez subsequently ended the 2013-14 campaign as the Premier League's top goalscorer, with 31 goals from 33 appearances, before completing a £75 million move to Barcelona after the World Cup finals in Brazil.
The Uruguay international has already paid back that huge transfer fee, scoring 40 goals in 61 matches and helping the Catalan giants win another historic treble last season in the process.
Video - Perez: Suarez is not a very good player
Perez's comment was inexplicable
Real Madrid fans are likely to be baffled by the footage. Why, exactly, did Perez have such a poor opinion of Suarez when the South American was in the form of his life at Anfield?
Perhaps Perez allowed the controversy surrounding Suarez to cloud his judgement.
Barcelona's current number nine was banned for the first two months of his Camp Nou spell after biting Italy's Giorgio Chiellini in Brazil - the third time he had been found guilty of such an offence following past incidents at Liverpool and Ajax.
Some criticised Barcelona for signing the controversial Suarez, but the transfer has worked out better than anyone at the Camp Nou could have imagined.
Real Madrid fans: does this video prove that Florentino Perez is clueless? Have your say by leaving a comment in the box below!