Clarets boss Sean Dyche expects the club will have to break their transfer record to add to his squad.
Dyche has brought three players in so far this summer, with an initial outlay of £3.6m on Johann Berg Gudmundsson, Nick Pope and Liverpool loanee Jon Flanagan.
The club have, however, had offers for Derby midfielder Jeff Hendrick, worth £7m rising to £8m, and Brighton's Dale Stephens, reportedly up to £5.5m, rejected.
They were prepared to pay Anderlecht €9m for Steven Defour, but the player looks set to join Al Jaziri in the UAE after a better wage offer.
The existing record is the £6m Burnley paid Brentford for Andre Gray last summer, and asked if the club will have to better that, Dyche admitted: "It’s likely we’ll have too. I think it was Jose Mourinho that said the market has no rules, you either get in it or you don’t. That is the simplest way of putting it.
"There’s no governance over it, there’s no reason or adjustment like a housing market, you can’t predict the transfer market. One deal can ignite a number of different situations.
"It’s tough for all concerned, the market’s gone up again.
"Everything has gone up from two years ago. Some of the numbers for players are astounding.
"It was Di Maria two years ago and now it’s Pogba. His fee is more than Burnley has ever spent in its history.
"That gives you a measure of where we are in the grand scheme of the market. But we’ve earned the right to be here, so we want to push the model, push the journey and push the players to be ongoing."
Dyche still hope to land his targets ahead of the window closing at the end of the month: "We hope so. The only way to guarantee it is to through a lot of money at the situation, some clubs do that and this club could do that, but it would be counter productive in the longer term to the bigger picture, and I understand that.
"It’s difficult as a manager. If the club could afford to do it or we had an owner worth £500million and he said don’t worry about the finances, I would do it, because I know the club would be secure.
"This club has got to be run at certain levels. It’s appropriate for the size of the club.
"I also have my own moral instinct about what is right and appropriate and I think that is right for this club."
Central midfield is a priority. But Dyche will strengthen the squad as and where he can: "Everywhere is a priority as regards quality. We want to put the layers in. We've got a group who worked hard to get back to the Premier League.
"We’ve added to it a little bit, but we need more layers to that, we need depth to the squad and we need to add more quality, ideally not just the quality but the knowhow, but if you mix the two together and you’re talking about Premier League players to sign then the whole package gets very, very heavy."