PROMOTION to the Premier League cost Burnley £8million, with around £7m being paid in wages and bonuses.

The Clarets were on course to break even following the £4m summer sale of Charlie Austin to Queens Park Rangers, after also posting a loss of £8m in the previous financial year.

But that figure will more or less be matched in the next annual statement.

It is understood the club has calculated a loss of £7.9m for the financial year ending June 2014, although the breakdown will not be released to shareholders until towards the end of the calendar year.

Player bonuses stacked up through the amount of time Burnley spent in the top two positions last season, while a promotion bonus was handed out to players and staff after runners up spot in the Championship and a return to the top flight was secured in April.

These incentives significantly contributed to the deficit in the club's annual accounts, although Burnley are in line to make a substantial profit from their Premier League season.

The last time the Clarets played at the top level they reported a record pre-tax profit of £14.4m for the financial year ending June 30.

That was in stark contrast to the previous year's loss of £11.7m in 2008/09.

The profit included increases in all aspects of the business, most notably from television rights but also match income, catering sales, commercial activities and club shop sales.

Meanwhile, new Burnley loanee Nathaniel Chalobah has been named among a quartet of players picked to form part of the Kick It Out organisation's 'Next 20 ' initiative aimed at tackling discrimination in football.

The scheme, involving 20 young footballers from across the Premier League, Football League and The FA Women’s Super League (WSL), will help to raise awareness of Kick It Out’s key messages of equality and inclusion.

Chalobah has been selected along with fellow England Under 21s Jack Butland, Jamaal Lascelles and Nathan Redmond.