Phil Brown has insisted he will only part with Michael Turner for a fair price after receiving a verbal offer from a Premier League club.
Hull City centre-back Turner has attracted attention after an impressive first season in the Premier League last term.
Liverpool are understood to be interested in the 25-year-old as Rafa Benitez seeks to bolster his defensive options.
However, Brown maintains there have been no official bids and the only club to have made contact is a long way from reaching their valuation.
"We've had a verbal offer from a club in the Premier League but there's been no firm offer through communications at boardroom level. That was nowhere near our expectations," Brown said in the Daily Mail.
Liverpool are reported to have made an enquiry that amounted to £6million, while Brown is holding out for about £12million.
"I'm still adamant that it would take a big offer to prise Michael away, no matter who the club is," explained the Tigers manager.
"We've got a prized asset there and I will guarantee that no player will leave the club on the cheap."