BURNLEY insist they will spend their money wisely this summer as they prepare for another Premier League push.

The newly-relegated Clarets are set to benefit from a total of £48million in parachute payments, receiving £16m for next season.

The club has already invested in a new £750,000 pitch that will be ready in time for the new campaign, while a chunk of the remaining cash will be set aside for manager Brian Laws’ summer transfer budget.

But Burnley are determined to set themselves up financially and not blow it all on a promotion assault, with chief executive Paul Fletcher revealing they are still in the market for free transfers.

“We’ve got some interesting targets out there to strengthen the side,” he said.

“We’ve got a far better wage count to tackle this league than we had last time, and we do have money available (to sign players).

“But it will be a combination of all things – free transfers and transfer fees.

“We know there are going to be a lot of free transfers out there.”