Former Liverpool winger John Barnes has branded talk of Luis Suarez never playing for the Reds again "ridiculous" after the Uruguay forward's bite on Chelsea defender Branislav Ivanovic.
Suarez apologised first via his Twitter account and then through a statement issued on the club's website for the incident, which happened before he scored a dramatic equaliser seven minutes into stoppage time to make the final score 2-2 at Anfield.
The club also issued an "unreserved apology", saying the 26-year-old's behaviour was "not befitting of any player wearing a Liverpool shirt".
There have since been calls from some quarters for the Anfield club to sack the star striker, who was last week shortlisted for the Professional Footballers' Association Player of the Year award, but Barnes believes that would be a step too far.
The former England international told BBC Radio Five: "He has to suffer the consequences of his actions - that's all he has to do.
"I've heard talk about him not playing for Liverpool again, which I think is ridiculous. I've heard talk about him bringing the good name of Liverpool down, which is also ridiculous - he's brought his own good name down.
"If you're saying because of what he's done he should never play for Liverpool again, who should he play for?
"Whoever signs him, it's going to reflect badly that they sign a player who Liverpool deem from a moral perspective not good enough.
"So Manchester United, Real Madrid, Barcelona... they can sign him? But we can't have him? If you're questioning his moral character, what you're actually saying is that if he can't play for Liverpool he can't play for anyone, which is ridiculous.
"The reflection on Liverpool is their response to the actions and their response is right. The response from (managing director) Ian Ayre and the club is 'it's completely unacceptable and we will not accept it'."
The player looks set to face a lengthy ban for the incident, with Barnes saying Liverpool should wait until the Football Association has dealt with the matter before possibly dishing out their own sanctions.
"The FA should act first and Liverpool will then see what punishment is meted out and then come up with their own conclusions, because they could ban him for five or seven games and then he gets another 10-game ban for the FA rather than the FA banning him or doing whatever they have to do first," he said.
"They should see what the FA do and then respond after."
Former Liverpool player David Fairclough believes it would be "extreme" for the Reds to decide to sell Suarez in the wake of yesterday's incident.
He told Sky Sports News: "I don't think you can take an extreme view like that.
"He's the best player in the team at the moment, he's one of the best players in the world, his ability is unquestioned and his performances this season have generally been top class, so to just wipe their hands of him and send him packing I think would be a little bit extreme."
The 56-year-old, who netted 55 goals in 175 appearances for the Reds during the 1970s and 80s, added: "It's obviously not good for Liverpool, it has besmirched Liverpool's name. Certainly Liverpool don't want to be in the news this morning for this type of thing.
"Clearly Luis needs a little bit of help, he has an anger issue I suspect, that's his drive to win and compete.
"I think Liverpool have to try and work with Luis Suarez, he's shown improvement in other ways over the last 18 months to two years and hopefully they can find a suitable solution, but it would be dramatic just to let him go just on this incident.
"I don't want to make a sweeping statement and say he should be transferred straight away or protected either way, I think there has to be discussion."
Suarez was banned for seven matches in Holland in 2010 after another biting incident when he was an Ajax player, and Liverpool stalwart Alan Hansen strongly criticised the striker.
Speaking on Match of the Day 2, Hansen said: "You're not expecting anything like this. This is absolutely appalling. Why he did it, we will never know. He's got previous, there's obviously a massive flaw in the character.
"To watch these pictures that will be going right round the world is horrific for Liverpool Football Club, their history, their tradition, and for the player himself. When he sees these images, he'll be apoplectic. It's just appallingly bad."
Hansen also cast doubt on speculation Liverpool could sell the controversial striker.
The former defender said: "He's a brilliant player that's had a brilliant season and if Liverpool get rid of him the losers will be Liverpool, there's no doubt about that. There'll be lots of clubs wanting to take him."
Former Liverpool goalkeeper Brad Friedel believes Suarez's value to the club will ensure he remains at Anfield.
The Tottenham player told talkSPORT: "Liverpool won't want to get rid of their best player.
"I know from an American psyche that the owners will not be happy with what they're seeing but they're businessmen and they're not going to want to just get rid of £22million of investment.
"They will try and work with him. He's an outstanding footballer but someone has got to try and get hold of him.
"Luis Suarez must have some sort of anger issues. You never hear about Luis Suarez making a bad tackle or things of that nature. It's always something that astonishes people.
"I've played with a few of Suarez's former team-mates and they all get along with him at training and off the field. They all say he's a good player to have in your team but he's one of those players who cross the boundary."
Marseille midfielder Joey Barton, meanwhile, believes Liverpool should support Suarez because it is his dark side that makes him such a good player.
Barton wrote on Twitter: "Suarez is a good as a player as there is in world football at the minute. Yes, he's messed up and shouldn't have bitten another player but..
"...a player like him has to play right on the edge. Without it he wouldn't be the talent he is. LFC would be mad not to back him IMO...
"...if they don't I'm sure the queue of Champions League clubs would stretch round the block.
"Only have to look up the M62 and see what Fergie did with Cantona to know Suarez is worth it. Yes, HE is that good!"
Liverpool were heavily criticised for their handling of the situation when Suarez was found guilty of racially abusing Manchester United's Patrice Evra last season, with the club robustly defending their player.
Former player and assistant manager Phil Thompson believes Liverpool have done the right thing in offering full and speedy apologies and fining Suarez.
Thompson told Sky Sports News: "Luis apologised, then we had the club apologising and now they've fined him very quickly. In the FA's eyes, they will look at Liverpool Football Club as having acted in the right manner as befits the club.
"But in terms of thinking, 'We may get away with a lesser ban', I don't think anything like that's been done.
"Luis Suarez will get a massive ban, 10 games plus or maybe even more, maybe a monthly ban as Eric Cantona got. We have to be willing and ready to accept that."
There have been calls for Liverpool to preempt action by the Football Association and ban Suarez but Thompson does not think that is necessary.
He said: "If Liverpool were to suspend him for the rest of the season, I'm quite sure the FA would have just lumped it on top anyway. But at least the club have acted quickly."
Comments by Ayre today seem to draw a line under speculation Liverpool could sell Suarez this summer, and Thompson is happy to accept whatever the club decide.
He said: "I will go along with the football club. If the football club says it's the last time he plays in a red shirt at Liverpool, I will go along with that. If he stays, I will go along with that.
"The biggest thing is the player himself. He cannot allow anything like this to happen again."