Michael Owen has told the BBC that he would be "surprised" if Luis Suarez were to move to Arsenal from Liverpool.
Suarez has been the subject of a transfer tussle over the summer, with Arsenal launching two bids - the latest of £40,000,001 - and seeing both being rejected.
The Uruguay international has made it clear that he wants to leave Liverpool, with reports suggesting he wants to speak to Arsenal, but his current club are standing firm and are not willing to sell.
And former Liverpool star Owen feels Suarez would be better off going to La Liga if his exit from Merseyside materialises.
"Arsenal are a fabulous club and have got a great heritage, but Liverpool are as big - if not bigger," Owen said on BBC's Sportsweek.
"I'd be very surprised if he were to move to Arsenal. Madrid or Barcelona would make more sense. I'm struggling to understand why he would leave and stay in England with Liverpool being the stature they are."
The prospect of playing in the Champions League remains one of the reasons why Suarez wants to depart Liverpool, but Owen believes the major two clubs in Spain would stand a better chance of winning the competition than Arsenal.
"From Suarez's point of view you can understand him if he wants to reach the absolute pinnacle of the game - that's playing in the Champions League. Liverpool obviously are not in that at the moment," Owen added.
"Truthfully, can you really see Arsenal winning the Champions League next season or going into the later stages? Unless they buy a good few players then I can't."