I doubt it's a "bug" issue that needs fixing. Bear in mind that if you're a club outside the top 4, then getting an offer that's "too good to refuse" - in the opinion of the chairman, it's going to happen at many clubs, not just Newcastle.
I can say from past experience that there's been many occasions when I've gone for a player I really want, offered considerably above his valuation and their board has intervened to accept my bid. So in effect, it works both ways.
Best hing I can suggest is to get existing players you value to sign a new contract, but include a good minimum release fee clause. This often dissuades the chairman from intervening and accepting anything below, unless of course your club is in financial trouble.
When signing new players and potential stars, again, include a minimum release fee clause, whatever you want within reason. Example - at Newcastle you'll have Michael Owen. If you want him to stay, then try to tie him up with a new contract, but include a minimum release fee clause of say, 25 million.
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