This information comes courtesy of Italian sources cited by talkSPORT, which suggest that it was decided the Serie A outfit should not entertain bids below that figure during a recent meeting with Ceric's agent over his contract situation.
Both aforementioned Premier League clubs have been credited with an interest in Cerci, whose sensational form during an impressive 2013/14 campaign at the Stadio Olimpico earned him a rightful place in Cesare Prandelli's final Italy squad for the upcoming World Cup in Brazil.
Manchester United and Liverpool - as well as any other potential suitors - should be able to get a good look at Cerci during the tournament, with many tipping the 26-year-old for a starting berth for the Azzurri's opening Group D clash against England in Manaus.
Indeed, he started his nation's final warm-up clash at the weekend, playing for just over an hour in the enthralling 5-3 victory over Fluminese at the Estádio General Sílvio Raulino de Oliveira in Rio de Janeiro.
An outstanding and refreshingly traditional wideman, Cerci - who has been a real star for Torino over the past two seasons - possesses pace in abundance and also carries a significant goal threat, as an impressive record of 13 strikes in Serie A last season demonstrates.
While in previous years a sum close to £20 million would perhaps shock and appall the majority of football enthusiasts, in truth such a figure does not represent a particularly significant outlay for the top clubs in the bizarre world of the modern transfer market and should not be a difficult price for either Manchester United or Liverpool to meet, if they so wish.
While both of those Premier League rivals could certainly benefit enormously from the capture of such a talented and often underrated performer, it is perhaps the former - who will soon be under the full-time management of Netherlands coach Louis van Gaal - who are most in need of the injection of sheer speed, guile and creativity that Cerci would bring.