A dispute between Luis Suarez and Liverpool over the terms of the Uruguayan's contract could be taken to the Premier League, reports the Telegraph.On Suarez's side, they believe the clause in his contract means Liverpool are obliged to sell him if a bid over £40 million is received, given that Liverpool failed to make the Champions League, while the bidders Arsenal are in the competition qualifying stage.These are the details of the clause that Suarez and his agent Pere Guardiola believe were agreed when the striker's contract was renegotiated in the summer of 2012.With Liverpool failing to make the top four and Arsenal in the competition, the bid should be accepted in their view.However, Liverpool are adamant they do not have to sell the player to Arsenal, because that is not how they have interpreted the clause.They remain firm that the clause entitles Suarez to be informed of the bid and allows him the possibility to negotiate personal terms with Arsenal, although they have and will not accept a bid below £50 million, they say.The Premier League are able to settle disputes between players and clubs, under the rule T.30, which could be taken up by Suarez and co, if Liverpool refuse to back down.They would make an unbiased decision based upon the evidence provided to them from both sides and a decision over the true nature of said clause would be made.This would not be the first time that Luis Suarez moved to take such a bold action. During his time in Holland, where he made his name, the Dutch league rejected his appeal that he should be allowed to move to Ajax, from Groningen.Regardless, he ended up at Ajax, where he started to make a name for himself and earned the £22 million price tag that Liverpool ultimately paid for him.Now the Merseyside club want more than double that, valuing the 26-year-old at £50 million - the same amount they received for Fernando Torres before buying Suarez.However, if Suarez were to win the appeal, Liverpool would still have a healthy profit for a player who quite clearly doesn't want to be there any longer.