Arsenal were heavily linked with Suarez while at Liverpool, yet despite all the signs pointing towards an exit from Merseyside, the North London club offered just £1 more than his alleged £40 million release clause.
The offer was subsequently refused, and the rest they say is history as the Uruguay international enjoyed a breathtaking campaign with the Reds and then went on to join Barcelona.
While Suarez is on course to add yet more titles to the five he already has at the Nou Camp, Arsenal are faltering in the Premier League title race and looking back on what could have been.
Writing in his column for the Daily Mail, Carragher suggests a failure to sign Suarez was Arsene Wenger's biggest mistake at the Emirates and has cost his side two of the last three league titles.
“Wenger and Arsenal were under the impression, remember, that a bid of more than £40million would take Suarez away from Liverpool but they took that to the extreme. By putting just £1 above the fee they thought would trigger a deal, it ensured business would never get done,” Carragher wrote.
”Not signing Suarez is the biggest mistake of Wenger’s reign. Had Arsenal pushed the boundaries for Suarez, perhaps with an offer of £50m, I believe they would have won the Barclays Premier League in two of the last three seasons. That’s the thing about Suarez: whichever team he plays for, he drags them to a higher level.”
Arsenal are currently ten points behind league leaders Leicester with just four games remaining.
The Gunners have dropped a number of silly points over the course of the campaign, with a large proportion of those coming as a result of a lack of prolificacy and wastefulness in the final third.
Aside from being a world class goal scorer, Suarez’s energy and willingness to work hard makes him unique and playing alongside Mesut Ozil and Alexis Sanchez, he would have taken the club to a new level.