If Michael Owen thought that his stock could not fall any farther, the Newcastle United striker might want to think again.

Dave Whelan was prepared to break the bank to sign Owen from Real Madrid four years ago before the player's £16million move to St James' Park, but the Wigan Athletic chairman effectively conceded yesterday that he would not touch the England outcast with a barge pole now.

Wigan did not receive a copy of the glossy 34-page brochure distributed to eight Barclays Premier League clubs by Owen's management company in a bizarre attempt to drum up interest in the former European Footballer of the Year, and to judge from Whelan's remarks, it was probably a good job.

Owen strenuously maintains that he still has the desire to compete at the highest level, but Whelan expressed misgivings over the striker's injury record and wage demands - Owen earns £115,000 a week at Newcastle. “We've not had the brochure,” Whelan said. “Would we be interested? No. One, his wages are too expensive. Two, has he got the urge, the bottle and the drive to do what the Premier League wants? It's a big question.

“I hope he has because he has been a great player. I tried to sign him and said to his agent I would pay £15million to bring him to Wigan and let him leave whenever he wanted.

“But he's looking a bit injury-prone now and loves his horses. I'm not criticising the lad, he has been a magnificent player and can still do a hell of a job for somebody, but I think he will want to go to a much bigger club than Wigan. Everton and Liverpool might think differently.”

Wigan presented Roberto Martínez as their new manager at the second attempt yesterday after his appointment was initially delayed by a wrangle with Swansea City about compensation for his backroom staff.

Whelan took the extraordinary step of reassuring the Spaniard, who has signed a three-year contract worth £1.5million, that his job would be safe even if the club are relegated next season, although the chairman expects the man he signed as a player 14 years ago to be a worthy successor to Steve Bruce.

“I'm sticking with Roberto,” Whelan, who sacked Chris Hutchings after only 12 Premier League games in 2007, said. “I want him here for three years minimum. If we go down, he will stay with us - that's for sure.”

Wigan are resigned to losing Antonio Valencia, although Whelan claimed that Manchester United will face a fight with Real for the Ecuador winger's signature. Bayern Munich are also understood to have registered their interest.

“Man United and Real Madrid have a meeting with us in the next three or four days and the other team have asked for a meeting,” Whelan said. “Real have been in contact once a week for the last six weeks and since Ronaldo joined them.

“We can't tell anybody where

they're going to play. If Real offered £2million more than United or vice versa, it still depends on where the lad wants to go. If you say have we had a bid in black and white - no.”