Suarez was suspended after the FA found him guilty of racist comments directed to Manchester United's Patrice Evra in the 1-1 draw at Anfield on October 15.

The Uruguayan forward was also given a 40,000 pound fine after the FA claimed his evidence was 'unreliable' and 'inconsistent'.

The Merseyside outfit released a statement on Tuesday and, although they expressed their disappointment, they have decided to accept the ban to put the 'matter to rest'.

"It is our strongly held conviction that the Football Association and the panel it selected constructed a highly subjective case against Luis Suarez based on an accusation that was ultimately unsubstantiated," the statement read.

"The FA and the panel chose to consistently and methodically accept and embrace arguments leading to a set of conclusions that found Mr Suarez to "probably" be guilty while in the same manner deciding to completely dismiss the testimony that countered their overall suppositions."

"Mr Evra was deemed to be credible in spite of admitting that he himself used insulting and threatening words towards Luis and that his initial charge as to the word used was somehow a mistake."

"The facts in this case were that an accusation was made, a rebuttal was given and there was video of the match. The remaining facts came from testimony of people who did not corroborate any accusation made by Mr. Evra."

"Liverpool Football Club have supported Luis Suarez because we fundamentally do not believe that Luis on that day - or frankly any other - did or would engage in a racist act."

"Notably, his actions on and off the pitch with his teammates and in the community have demonstrated his belief that all athletes can play together and that the colour of a person's skin is irrelevant."

"Continuing a fight for justice in this particular case beyond today would only obscure the fact that the Club wholeheartedly supports the efforts of the Football Association, the Football League and the Premier League to put an end to any form of racism in English football."

"It is time to put the Luis Suarez matter to rest and for all of us, going forward, to work together to stamp out racism in every form both inside and outside the sport. It is for this reason that we will not appeal the eight-game suspension of Luis Suarez."

In a statement, Suarez paid tribute to Liverpool fans for their support.

"First of all I would like to thank everyone so much for all the help and support I have received during these last few weeks," the statement read.

"Never, I repeat, never, have I had any racial problem with a team mate or individual who was of a different race or colour to mine. Never."

"I am very upset by all the things which have been said during the last few weeks about me, all of them being very far from the truth. But above all, I'm very upset at feeling so powerless whilst being accused of something which I did not, nor would not, ever do."

"In my country, 'negro' is a word we use commonly, a word which doesn't show any lack of respect and is even less so a form of racist abuse. Based on this, everything which has been said so far is totally false."

"I will carry out the suspension with the resignation of someone who hasn't done anything wrong and who feels extremely upset by the events."

"I do feel sorry for the fans and for my team mates whom I will not be able to help during the next month. It will be a very difficult time for me."