The 19-year-old forward, who starred at the recent Under-20 World Cup with Spain, recently expressed a desire to remain at Anfield despite being linked with a return to his homeland.
But now Liverpool boss Brendan Rodgers has decided to let the player gain further experience in the Primera Division.
Suso, signed from Cadiz in 2010, broke into the Liverpool side last season and made 20 first-team appearances.
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