Speaking about Rangers' interest in City's centre half Jones admitted that City, like most clubs, will sell if the price is right.
Jones said: "If Walter wants Glenn he should make a bid. But he won't be cheap and I'll have a big decision to make if Walter does come for him.
"We've had no official contact. An agent did come on to me about a possible deal but I laughed about it and said it was a derisory offer.
"Players at our club are available at a price because we're not in the big league and able to keep them but we have to get what we want."
Jones, who it's reported has banned Loovens from talking to the press went on to talk about the offer made for Kris Boyd
He said: "Our offer was knocked back and we can't afford more. We also heard Kris wanted to stay at Ibrox."