Neil Warnock has expressed his relief at Nathaniel Clyne's decision to turn down a move to Wolves.
The Crystal Palace youngster refused to open talks with Mick McCarthy's side despite a fee being agreed.
Due to Palace's grim financial situation, Warnock feared that he may lose the 18-year-old right-back for what he believed was an undervalued offer.
"Nathaniel Clyne was given permission to talk to Wolves after they had agreed a £700,000 fee," Warnock wrote in his column in The Independent.
"I told the administrator I thought the figure was a third of what Nathaniel is worth and although I can't blame Jez Moxley, Wolves chief executive for offering such a laughable figure.
"At least it was more realistic than the £1.5m he had offered for Victor and Nathaniel.
"Fortunately, Nathaniel is managed by a member of his family, who put the player's future ahead of his own payday."
The former Sheffield United boss also revealed that he came close to quitting Palace after a crushing defeat to Scunthorpe earlier in the season.
Warnock travels to Glanford Park for the return fixture on Saturday and now says he is fully committed to the relegation fight after his side's 10-point penalty.
He added: "In the week I was looking for the results of Sheffield United and Blackpool, then realised I should be worrying about Reading and Plymouth.
"Scunthorpe beat us 4-0 early on in the season at Selhurst. It was one of the worst days of my career - and I've had some bad ones.
"It is the only time since I've been here, including the administration situation, that I thought about leaving.
"If Simon (Jordan) hadn't been chairman I think I'd have walked out that night, I was so disappointed with the defeat and the manner of it.
"Simon spent an hour and a half with me that night talking me out of it in our tiny kit room."