Clarets boss Sean Dyche admits escalating transfer fees continue to make it hard to attract new signings.
But while he revealed that a couple of targets appear to be out of reach, he is hopeful other avenues will prove more fruitful – with Aston Villa centre back Nathan Baker poised for a £2m switch to Turf Moor.
Burnley made their third summer signing on Tuesday as Everton striker Chris Long signed a three-year deal, with an option for a fourth, joining Matt Lowton and Jelle Vossen through the door.
However, they have been frustrated in their attempts to land long-time target Henri Lansbury of Nottingham Forest, seeing their latest two bids turned down last Friday.
Baker, however, is set to plug the gap left by Jason Shackell’s departure to Derby County, with Villa not standing in the way of a player who wants more regular first team football, and Dyche said: “We still want to bring people in, still want to freshen, so we’re active in that.
“That’s the tough side of it at the moment, we have got money, and yet some of the deals other clubs are doing are massive for the Championship.
“But we’re still trying to support and challenge the group. We still want to reinforce, we are still at it.
“There has been a couple of deals which have gone away from us and a couple got closer, simple as that.”
Derby and Middlesbrough are flexing their financial muscles, with Boro reportedly close to making Blackburn Rovers striker Jordan Rhodes the most expensive player in Championship history for the second time in his career, with a £12m offer on the table.
Dyche added: “If the Rhodes one is reality, where is the ceiling for the Championship? That’s beyond Burnley Football Club, not because we’re trying to be frugal, just because there has to be a future here. None of us have seen that in the Championship before.
“I say it all the time, the market has gone absolutely mad, I was talking to a head of recruitment at a very big Premier League club, and he was saying they can’t believe the market, and how hard it’s been to get deals done.
“We have money, but the targets still have to be within the right bracket, I’m not talking hundreds of thousands, I’m talking millions, but it still has to be within the right bracket for this football club.
“There can’t be nine and 10 millions – at this moment, who knows longer term – because we would have done that last year, we are very active, but finding it a real challenge to get other clubs to accept bids and allow players to change, but it’s not just us.
“It’s great if you’re a selling club, because fees are massive at the minute, but we’re not, we want to be buying.”
Long is 20, and Burnley are also believed to be closing in on deals for out of contract Shrewsbury Town winger Josh Ginnelly, 18, having snapped up 18-year-old AFC Wimbledon striker Daniel Agyei on a long-term contract.
Dyche admitted: “It’s important we understand the club beyond this moment.
“Of course, we are active to get players in to affect this moment, but we also want a second layer to develop and get stronger, which is why young Brad (Jackson) is getting involved, Cammy Dummigan is back from a long injury last season and he is looking nice and sharp, and getting used to being around the first team.
“There has to be that layer behind – Tom Anderson and the likes, although the immediate first team is, of course, very important.
“Our eyes are on that immediate situation, we still think we need others and want that bigger challenge.”
Meanwhile, midfielder David Jones has extended his contract, committing his future to the club until 2017.