Ajax technical director Danny Blind has revealed Jan Vertonghen has a release fee of "well over €20 million".
Arsenal and Manchester City have both been linked with a move for Vertonghen, 24, who is capable of playing at centre back or in a defensive midfield role.
However, the Belgium international has indicated that he wants to remain at Ajax for another year and Blind has now warned interested clubs that he will not come cheap.
"There is nothing concrete at the moment," Blind said on Eredivisie Live. "Jan has a limited fee release clause in his current deal, but that amount is well over €20 million.
"There are some clubs in England that are willing to pay those kind of fees, but Jan is pretty picky when it comes to a potential new club."
In July last year, Vertonghen had revealed he was ultimately keen to try his luck in the Premier League.
"I am ambitious," he said in The Sun. "I want to play in the Premier League. The Premier League is my favourite competition but I need one more year before I am ready. I always said I don't want to move this year so the clubs never came to me."