Luis Suarez is:
1) One of the best attacking players currently playing in European football
2) A racist nutjob who can't be entrusted to spearhead the offense of a team trying to win a championship
3) All of the above
4) Come on, life is more nuanced than that
Your answer to the above will no doubt influence how you feel about this story, in which Liverpool confirm that Arsenal did in fact make a bid for the Uruguayan striker with a penchant for both running and using his mouth on the pitch. That bid, for probably somewhere in the £35 million range, was rejected by Liverpool; it remains to be seen whether Arsenal will up their bid and get Suarez or whether Suarez' wish to leave England entirely will be granted.
It also remains to be seen whether this was a ploy to force the hand of both Real Madrid and Gonzalo Higuain or a legitimate bid; the thinking being, if Madrid knows Higuain's suitors are looking elsewhere, they'll stop being Real Madrid for a minute and remember that "good faith" is part of the negotiating process. I guess if Arsenal come back with an increased offer, we'll know the answer to that one.
I don't know that TSF takes an "official" stand on much of anything - there's, what, six of us now? and while we do generally like to come to some sort of consensus, sometimes that consensus is "agree to disagree" - so this is purely my opinion, but I'd be fine with Suarez. He's a stellar player, and if ever there was a setup and a team that can calm a player down and bring the best out of him, it's Arsene Wenger's Arsenal.
Go back to early Patrick Vieira - a legendary hothead on the pitch in his early years, Arsene managed to show him that if he channeled that aggression into his play, he'd be a far more effective player. I think Arsene could have the same impact on Suarez. As for the racism thing, well, that's thornier - but it can still be developed out of a player, and I firmly believe that while racism is abhorrent and wrong, it's also not something that is germane to his playing ability. He currently plays on a Liverpool team that is multi-racial, so it's not like he'd get to Arsenal, recoil, and run away.
I've never been one to particularly care what a player is like off the field, in any sport - I once advocated a Canseco/Bonds/Sosa outfield, because holy cow that would be fun to watch, both at the plate because dingers, and in the outfield because comedy!
The way I look at it is - and again, this is just me - I'm never going to vote for these people, I'm not going to ask them to cat-sit for me when I'm on vacation, and none of them will ever want to date a member of my family, so as long as they produce on the field, they can be the bastard spawn of Pete Rose, Mike Tyson, and Ray Lewis (you know he was probably involved in killing a guy, right?) for all I care. Performance is all that matters, from my perspective. And from that perspective, Suarez is an excellent target if Higuain is off the table.
I believe Travis said it in the comments, but if you've been spending the last few years braying about how Arsenal doesn't ever go after world-class talent, in my view you can bray no more. Suarez is world-class.