The battle went badly for the Royalists. Persistent legends, based on the highly coloured and unreliable accounts of sixteenth century chroniclers such as Robert Lindsay of Pitscottie, John Leslie, and George Buchanan, claim that James III was assassinated at Milltown, near Bannockburn, soon after the battle. There is no contemporary evidence to support this account, nor the allegation that he fled the battle, nor the tale that his assassin impersonated a priest in order to approach James.
Prince James ascended to the throne, and reigned as James IV for twenty-five years. Throughout his reign he wore a heavy iron chain around his waist, next to the skin, as a constant reminder of his role in the death of his father.