The north London side made an audacious £40,000,001 bid to sign the Uruguay international from Liverpool in August 2013.
Arsenal believed the amount would activate a clause in Suarez’s contract, but Liverpool FC rubbished the presence of such a clause.
Suarez was unsettled by the interest and handed in a transfer request in an attempt to force through a move to The Emirates.
However, Liverpool FC manager Brendan Rodgers and club legend Steven Gerrard managed to convince Suarez to remain for another season.
Suarez went on to score 31 goals in 33 games in the Premier League to help Liverpool FC challenge for the title.
Former Arsenal midfielder Parlour believes Suarez would have fired the Gunners to their first Premier League title since 2003-04.
“Suarez was the one,” Parlour told Sky Sports. “They would have won the league if they had Suarez.
“I don’t know who tried to get the deal done. He’d be frustrated not to get someone like Suarez.”
Suarez moved to Barcelona from Liverpool FC in a £65m deal in the 2014 summer transfer window.
The Uruguayan helped Barcelona to win the treble in his first season at the Catalan side.
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