Suarez was sanctioned by an FA Independent Regulatory Commission on Tuesday for racially abusing Patrice Evra.
Evra told French TV he was racially abused by the Uruguayan on 10 occasions during Manchester United's Premier League match at Anfield on October 15.
The FA said in a statement: "An Independent Regulatory Commission has today found a charge of misconduct against Luis Suarez proven, and have issued a suspension for a period of eight matches as well as fining him £40,000, pending appeal."
The commission's ruling stated: "Mr Suarez used insulting words towards Mr Evra during the match contrary to FA Rule E3(1);
"The insulting words used by Mr Suarez included a reference to Mr Evra's colour within the meaning of Rule E3(2);
"Mr Suarez shall be warned as to his future conduct, be suspended for eight matches covering all first team competitive matches and fined the sum of £40,000;
"The [penalty] is suspended pending the outcome of any appeal lodged by Mr Suarez against this decision."
The FA confirmed that Suarez's suspension will not start until the outcome of any appeal.
The statement added: "Mr Suarez has the right to appeal the decision of the Independent Regulatory Commission to an Appeal Board. An appeal must be lodged within 14 days of the date of the written reasons for the decision.
"The penalty is suspended until after the outcome of any appeal, or the time for appealing expires, or should Mr Suarez decide not to appeal. The reason for this is to ensure that the penalty does not take effect before any appeal so that Mr Suarez has an effective right of appeal."
The Uruguay striker had strongly denied the accusation and was fully supported by Liverpool.
Evra made the claims immediately after the match at Anfield two months ago, telling French TV station Canal Plus that Suarez had used a racist insult to him "at least 10 times".
Evra said: "There are cameras. You can see him (Suarez) say a certain word to me at least 10 times."
Both players spoke to FA officials during the investigation and Suarez's defence was based on claims that he was unaware language that is acceptable in Uruguay is viewed as racist in Europe.
Suarez told Uruguayan media last month: "There is no evidence I said anything racist to him. I said nothing of the sort.
"There were two parts of the discussion - one in Spanish, one in English. I did not insult him. It was just a way of expressing myself. I called him something his team-mates at Manchester call him, and even they were surprised by his reaction."
Evra reported his complaint to match referee Andre Marriner, who included it in his report.
Liverpool issued their initial response in a statement, outlining they were "surprised and disappointed" and said they found it "extraordinary" the FA had taken Evra's word.
They did not officially confirm whether or not they would be appealing, but said: "Liverpool Football Club is very surprised and disappointed with the decision of the Football Association Commission to find Luis Suarez guilty of the charges against him. We look forward to the publication of the Commission's Judgment.
"We will study the detailed reasons of the Commission once they become available, but reserve our right to appeal or take any other course of action we feel appropriate with regards to this situation.
"We find it extraordinary that Luis can be found guilty on the word of Patrice Evra alone when no one else on the field of play - including Evra's own Manchester United team-mates and all the match officials - heard the alleged conversation between the two players in a crowded Kop goalmouth while a corner kick was about to be taken."
Liverpool also reiterated their stance against racism, and suggested they were keen to see what action the FA would be taking against Evra, claiming he had admitted insulting Suarez himself.
The club also accused the FA of being "determined" to find Suarez guilty, adding: "LFC considers racism in any form to be unacceptable - without compromise.
"It is our strong held belief, having gone over the facts of the case, that Luis Suarez did not commit any racist act.
"It is also our opinion that the accusation by this particular player was not credible - certainly no more credible than his prior unfounded accusations.
"It is key to note that Patrice Evra himself in his written statement in this case said 'I don't think that Luis Suarez is racist'.
"The FA in their opening remarks accepted that Luis Suarez was not racist.
"It appears to us that the FA were determined to bring charges against Luis Suarez, even before interviewing him at the beginning of November. Nothing we have heard in the course of the hearing has changed our view that Luis Suarez is innocent of the charges brought against him and we will provide Luis with whatever support he now needs to clear his name.
"We would also like to know when the FA intend to charge Patrice Evra with making abusive remarks to an opponent after he admitted himself in his evidence to insulting Luis Suarez in Spanish in the most objectionable of terms.
"Luis, to his credit, actually told the FA he had not heard the insult."
Suarez said on Tuesday night, via his Twitter account: "Today is a very difficult and painful day for both me and my family. Thanks for all the support, I'll keep working!"
He later added on his official website: "I'm upset by the accusations of racism. I can only say that I have always respected and respect everybody.
"We are all the same. I go to the field with the maximum illusion of a little child who enjoys what he does, not to create conflicts."
Liverpool boss Kenny Dalglish said via his Twitter account: "Very disappointed with today's verdict. This is the time when @luis16suarez needs our full support. Let's not let him walk alone. KD."
Lord Herman Ouseley, chairman of Kick It Out, said: "The FA has shown leadership and intent through what has clearly been a difficult and complex complaint to deal with, and invested time and expertise to ensure this outcome.
"It has demonstrated that it will not stand for discrimination, something organisations such as FIFA and UEFA should take heed of.
"Kick It Out will continue to work with clubs and players, at professional and grass roots level, offering education on what is deemed offensive and unacceptable behaviour."
"Let's be honest this is Suarez own fault. Regardless of whether or not he intended to be racist, he should have known better than to use the word or words he did. I only hope that either we buy a decent striker in January or Carroll steps up and scores some goals".- arnie__red
Source: http://www.football365.com/liverpool/7389279/Suarez-Ban-Anger
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