I wouldn't. The market should dictate what Lovren costs, and I know there's a cult of irrational hatred for him on here, but he isn't nearly as bad a defender as people make him out to be. For starters, I'd have him ahead of any of Arsenal's woeful CBs, and I'd also have him ahead of the perma-injured and overrated Stones. He's about the same level as an Otamendi perhaps. Not great, but not absolute terrible, and in a mid-table side, he wouldn't be half bad. Many a Premier League mid-table or lower mid-table manager would happily take him if they could afford his fees and wages. The biggest hurdle in moving Lovren, I suspect, will be his 100k a week wages.
For transfer fees, just as an example, let's look at the CBs who moved last summer.
Maguire - 80 mil
De Ligt - 77 mil
Hernandez - 72 mil
Militao - 45 mil
Manolas - 32 mil
Diallo - 29 mil
Hummels - 27 mil
Saliba - 27 mil
Romero - 23 mil
Kounde - 22 mil
Hermoso - 22 mil
Andersen - 22 mil
Mings - 20 mil
Webster - 19 mil
Felipe - 18 mil
Maripan - 16 mil
Based on that list (of whom half I don't even know), I'd demand at least 15 million, and hope to get somewhere around 10 million given the financial circumstances.