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Burnley go back to the bank as their owners seek more loans to help cope with crippling debt after relegation, as Clarets attempt to refinance the terms of a previous deal

Burnley's owners are seeking more loans to help them service existing debt as they grapple with the financial calamity of the club's relegation from the Premier League.

Sportsmail has learned Burnley recently rejected a loan offered at a relatively modest interest rate of six per cent as they were confident of staying up. They will now revisit the loan markets as well as attempting to refinance the terms of a previous loan from MSD Capital.

Burnley's first relegation for seven years will immediately cost them £55million in television revenue, and the club will face further financial penalties as a result of the nature of their highly leveraged takeover by ALK Capital 18 months ago.