Van Dijk has been linked with a move to Liverpool throughout the summer after impressing under Claude Puel at Southampton last season.
The Reds' interest has cooled somewhat though after Southampton reported their approach for the 26-year-old to the Premier League.
Liverpool released a statement stating they had ended their pursuit of Van Dijk but rumours linking him with Anfield have not gone away.
Saints were reportedly asking for a fee of around £60million for their star man, which would be a world-record fee for a defender.
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Virgil van Dijk is a top player and I don't see any reason why Southampton should compromise
Simon Jordan on Liverpool target Virgil van Dijk
Jordan says the going rate of defenders is rising and Southampton should hold out for what they want from Liverpool.
"They can pay for it, write a cheque out," Jordan said on talkSPORT.
"You've got big mouths and you want to go about things a certain way and I'm completely sure that if had it done to them they would be screaming from the rafters.
"I think they way Southampton will consequence this is by consequencing Liverpool's cheque book.
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Southampton must "consequence" Liverpool's cheque book for Virgil van Dijk, says Jordan
"You look at the centre-back department and you look at boys like (Michael) Keane going for £25-30million and you look at the boy at Middlesbrough, (Ben) Gibson, who may well go for £25-30million.
"If Steve Gibson wants his way then he will go for £25-30million.
"You look at Virgil van Dijk and he is a top player and I don't see any reason why Southampton should compromise and I'm sure they won't.
"They will have their pound of flesh and hopefully Liverpool will pay behaving in a certain way."
Van Dijk has made 55 Premier League appearances for Southampton since joining from Celtic in 2015.