PAUL Fletcher believes Burnley need new investment if they are to compete in the Championship – but he has warned of the dangers of following Blackburn Rovers’ lead by selling the club outright.

Fletcher stepped down from his role as the Clarets’ chief executive in December and fears the influx of investors in the Championship has now made it extremely difficult for Burnley to gain promotion back to the top flight without new funds.

But he has stressed the need to keep local people in charge of the club – in contrast to Burnley’s fierce rivals Blackburn, who were relegated from the Premier League last night after the unpopular takeover of Indian poultry firm Venky’s.

Retiring chairman Barry Kilby and operational director Brendan Flood are currently the main decision makers at Turf Moor.

“It is becoming more and more difficult for Burnley because of the money that is being invested by the clubs at the top of the Championship table now,” said Fletcher, who spent nine years at the club as a player.

“When Bob Lord was here the club would develop youth and be able to have success that way but those days are gone unfortunately.

“Obviously I’m not in the board meetings any more but if I was I would be trying to get investment if possible.

“What Burnley ideally need is a local businessman who can come in and give the club £25m each year and not expect it back, although that is not easy to find. Blackburn had that in Jack Walker.

“But I think what Burnley need to do is get investors, not to sell the club as a complete entity – whether that is to chicken farmers, Russian businessmen, a Shah or whoever.

“Some people might disagree but that would be my own thoughts on that.

“Then you still have Burnley people running the club and making the decisions.

“I have worked at four different clubs and it is a very different decision making process because you are not just making decisions with your brain and thinking about money, but with your heart as well.

“Barry and Brendan will have the thought of their fathers looking over their shoulders saying, ‘Be careful’.

“They understand the responsibility and what the club is all about.”

The likes of Southampton and Leicester have spent millions on their squads after receiving substantial investment, although Fletcher knows it would be more difficult to attract the same funds to Turf Moor.

“You look at the clubs who have attracted investment and most of them have new facilities,” he said.

“Arsenal, Man City, Bolton, Leicester, Hull, they have all had new facilities.

“Even at Coventry, where they had someone who put in £33m and have still been relegated from the Championship.

“It is becoming more difficult for the traditional football club like Burnley.

“The club can have a good year now and then you have the problem where you have to sell off your best players.

“Players like Jay Rodriguez and Kieran Trippier are the players you want at the club but now you are always in danger of seeing those players cherry picked.”