Everton, the English Premier League soccer club that was recently refused planning permission for a new stadium and has reported an operating loss of £6.7 million for the year ending May 31, 2009, may have been handed a big boost.

The club was refused permission to sell its old training ground earlier this year, but according to press reports that decision is now likely to be reconsidered. The News of the World claims that the sale, which will see the old training ground turned into a residential development, will be worth £7 million (US$11.5 million) to the team.

Despite the club's prudent spending in the transfer market compared to many of its Premier League rivals, and a record turnover of £79.7 million, the club's increased player wage bill - with wages totalling £49.1 million - led to the £6.7 million loss last year.

• Struggling Everton hit by another financial blow

The current season has been a difficult one on the pitch as well, but a midweek win over AEK Athens in the Uefa Europa League and a dramatic comeback from 2-0 down to secure a point against Tottenham Hotspur yesterday may have signalled a turnaround in Everton's fortunes.