"Having not heard anything from Liverpool for some time it is clear we value him more than they do," said O'Neill. "The fact they have not answered us for a week sends out a real message.
"We obviously don't want him to go, so the price we are asking is a fair and realistic one for a player who is so good. In fact I think it is really cheap.
"My own view is that he should hang around for another year and see if we can make further progress as he would want.
"Gareth is still only 28 next year - if we don't get where he wants to go, everybody would wish him well."