Real Madrid could land Luis Suarez for a lower figure than they paid for Gareth Bale in the summer, according to the Metro.
The Liverpool striker is understood to have had a £70million release clause inserted into the new contract he signed last month.
The Reds wanted the figure to be £100million, but Suarez and his representatives felt the figure was too excessive.
A compromised figure of £70million was agreed before the deal was signed.
Arsenal thought they had triggered a release clause for the Uruguayan in the summer after they made a bid of £40million and £1, only for Liverpool to reject the offer claiming they were under no contractual obligation to accept.
The controversy sparked a summer long transfer saga, which culminated with Suarez staying at Anfield after being told to train with the youth team by Brendan Rodgers.
But with the new deal signed, the Reds would be forced to accept should any side offer a figure of £70million for the striker, who has managed 20 Premier League goals already this season.
Real Madrid have tracked the forward for the best part of a year, and would be willing to pay a figure that would prove to be £16million less than what they paid Tottenham for Gareth Bale in the summer.
Their chances of signing Suarez would significantly improve, should Liverpool fail to qualify for the Champions League this season.