Wigan Athletic have slapped a £20 million price-tag on Real Madrid target Luis Antonio Valencia.

Wigan believe Valencia, 23, is second only to Cristiano Ronaldo among the top wingers in Europe. The club suspect Real have underestimated their desire to keep a player who signed permanently on a three-and-a-half-year deal from Villarreal in January after impressing on loan at the JJB Stadium.

Owner Dave Whelan does not have to sell and will hold out for an offer of £20m, although he might be prepared to accept a figure closer to the £16.6m being reported in Spain if Real pay the majority of it up front rather than try to break it down into instalments.