Everton will have to pay Wigan Athletic £5m in compensation to make Roberto Martinez their new manager, according to a report.

Martinez is set to tell Latics chairman Dave Whelan that he wants to leave the club to pursue a new challenge following their relegation to the Championship.

However, due to the terms of Martinez's contract, Whelan will be able to charge as much as £5m to release him from his deal should the Toffees come calling, reports The Mirror.

Everton received no compensation from Manchester United when David Moyes joined the Red Devils so any deal to bring Martinez to Goodison Park will cut into the club's transfer budget.