Liverpool have begun negotiations to extend Luis Suarez's contract after managing director Ian Ayre flew in to Barcelona to hold talks with the Uruguayan striker's agent Pere Guardiola, according to The Express.

After having netted 17 goals in just 11 league games this season, The Reds are keen to reward the 26 year old for his fine form this term as well as warn off interest from Real Madrid.

Suarez has two-and-a-half years on his current contract remaining but Liverpool are keen for added commitment from the forward, after a summer during which he stated he wanted to leave Anfield.

Coupled with his outstanding form this term, an extension of Suarez's contract would likely increase his market value should Madrid or Arsenal come calling next summer.

Arsenal, the Premier League leaders, saw two bids rejected for Suarez in the summer and even should Liverpool qualify for the Champions League this season for the first time since 2009, the Uruguay international is expected to once again demand to leave in order to compete for silverware on a regular basis.

Liverpool have enjoyed rapid improvement under the guidance of Brendan Rodgers since the Northern Irishman moved to Merseyside from Swansea City in the summer of 2012, with the club second after 16 league games of this season having finished seventh in his maiden campaign

Such improvement has seen Liverpool lure the likes of Daniel Sturridge and Philippe Coutinho, but it yet to be seen whether a top four finish this term would be enough to keep Suarez, who is among the most feared strikers in world football.

Two hat-tricks this season against West Bromwich Albion and Norwich City sees Suarez as the leading scorer in the Premier League this season and marks a sensational return from a 10-match ban for biting Chelsea defender Branislav Ivanovic in April.

The incident was the latest in a series of high-profile controversies involving the ex-Ajax man but Liverpool have continued to keep faith, with Rodgers entrusting Suarez with the captain's armband in the win at Tottenham Hotspur – in addition to the intention to offer him a new deal – an indication as to his status at the club.