The twice-capped France international has been previously linked with a move to Newcastle but the Ligue 1 leaders are determined not to lose their striker on the cheap
The France international was heavily linked with a move to Newcastle during the January transfer window but no official approach was made to the Ligue 1 leaders, while Arsenal are also believed to be monitoring his situation closely.
The Toon have since purchased Senegalese striker Papiss Demba Cisse from Freiburg, leaving the Gunners as Giroud's likeliest suitors should a move to the Premier League be his preferred choice.
Montpellier, though, are bracing themselves for concrete offers in the summer and, according to France Football, have now decided to raise Giroud's buy-out clause, which had previously stood at €10m (£8.4m).
The club's president, Louis Nicollin, had previously stated that he would not allow the player, who is under contract until 2014, to leave for anything less than €50m (£42m).
Giroud, who has been capped twice by his country, has hit 16 goals in 22 games for Montpellier in Ligue 1 so far this season.
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