Not only is this the first summer that their new owners can make an impact on the squad, but manager Sean Dyche has emerged as one of the early candidates to be poached by Premier League rivals Crystal Palace following the departure of Roy Hodgson.
Clarets fans will be hoping that they can keep hold of the long-serving boss, however, and will also be looking for their side to bring in some fresh faces too.
And according to pundit Lee Hendrie, Liverpool defender Nat Phillips could be an ideal signing for the club.
Speaking on Sky Sports’ Soccer Special, the former Aston Villa man said: “He has been a breath of fresh air, you’ve got to say.
"What I like about him, is he a Liverpool-style player? Possibly not, but everyone’s grown to like what he’s been all about.
"He wears his heart on his sleeve, he puts his head where he shouldn’t do. Why shouldn’t he be one of the better centre-halves around?
"He’s proved that he has turned a big corner. Against Burnley in particular he was excellent. The goal-line clearance was top drawer.
"He’s the type of player, no disrespect, that I could see at a Burnley or somewhere like that. He’s that style of player.
"What a season he’s had. He’s had to fill some big boots, might I add, and he’s been absolutely magnificent.”
We’ve gathered the best of today's Premier League transfer speculation below...