Burnley have made a move for Preston’s Republic of Ireland winger winger Keith Treacy, according to the Deepdale club's chairman.
In a statement on Preston's official website, club chairman Maurice Lindsay said: "We made our manager (Phil Brown) aware of the fact that we had a significant cash offer from Burnley for Keith.
"A discussion was held with our owner, Mr Trevor Hemmings, who made it quite clear that we needed to seriously consider the offer to assist the cash problems at the club.
"I have personally turned down three offers from Burnley for Keith but their final offer had to be accepted as it will help the owner to lower his investment and keep the club in business.
"No-one want to sell players who have any quality, as Keith does, but we are in the harsh reality of trying to stay alive."